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Judgment
6 paragraphs · 87 words
ORDER
IA/95(MP)2022
This application is filed by the IRP under Section 12A of IBC, 2016 r.w. Reg. 30A of IBBI (Insolvency Resolution Process for Corporate Persons) Regulation, 2016.
It appears that after admitting the Corporate Debtor in CIRP, the dispute is settled between the Original Financial Creditor and the Original Corporate Debtor and the CoC is not formed.
Since, the parties have entered into the settlement, the Corporate Debtor is released from all the rigours of the CIRP.
With this direction, IA/95(MP)2022 stands allowed and disposed of.