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Judgment
O R D E R
15.02.2023: This Appeal has been filed against the order dated 10.11.2022 by which order the application filed by the Operational Creditor under Section 9 was admitted. This Appeal was taken up by this Tribunal on 15.11.2022 and the order dated 10.11.2022 was stayed.
An additional affidavit has been filed by the Appellant where it has been specifically stated that parties have resolved their dispute and have executed a settlement agreement dated 09.02.2023.
Learned counsel for the Operational Creditor also submits that settlement has already been arrived between the parties and the Operational Creditor does not want to purse the application under Section 9.
Interim Resolution Professional (IRP) is present in person. It is submitted that fee of Rupees Two Lakhs as directed by the Adjudicating Authority has already been paid. IRP submits that he has attended the proceedings before the Adjudicating Authority and the Appellate Authority and has incurred some expenditure.
We are of the view that the Corporate Debtor shall make payment of Rupees One Lakh to the IRP towards the expenditure incurred by him within a period of two weeks.
Taking the Additional Affidavit on record, we are of the view that the CIRP proceeding need to be closed. In view of the aforesaid, order dated 10.11.2022 is set aside. Appeal is disposed of accordingly.