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Judgment
Heard learned counsel for the Appellant as well as learned counsel for the Respondent No.2. This Appeal has been filed against the order dated 24.03.2023 passed in I.A. no. 24 of 2021. CIRP against the Corporate Debtor was initiated on 26.02.2020. I.A. No. 24 of 2023 was filed by Mr. Kamal Agarwal, Resolution Professional of the Corporate Debtor under Section 45 against Potential Coaching Institute Pvt. Ltd. and two of Director of the Suspended Management, where several prayers were made which has been noticed in Para 1 of the impugned order. The Adjudicating Authority by the impugned order has disposed of the I.A. No. 24 of 2021.
An I.A. has been filed by the Applicant bringing on record a Memorandum of Understanding (MOU) dated 28.10.2023, where parties have arrived at agreement as noticed in the MOU. The plan having been approved under which Appellant has been accepted as Successful Resolution Applicant, we are of the view that I.A. No. 24 of 2021 needs to be disposed of in terms of the MOU reached between the parties dated 28.10.2023.
In view of the aforesaid, we dispose of this Appeal modifying order dated 24.03.2023 passed by the Adjudicating Authority to the effect that application I.A. No. 24 of 2021 is disposed of in terms of Memorandum of Understanding dated 28.10.2023.
Appeal disposed of accordingly.