AI Structured Summary
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Judgment
This is an application filed under Section 12A by the Resolution Professional seeking withdrawal of the IB Application filed by the Operational Creditor. The RP states that CIRP Order was passed on 28.04.2022 and the Committee of Creditors was constituted on 17.05.2022. The 1st meeting of the CoC was held on 30.05.2022 when the IRP was confirmed as RP.
Settlement talks between the parties were initiated during the month of June 2022 and after series of meetings between the parties, the Form FA was signed and placed before the CoC for approval for withdrawing the IB Application in the meeting held on 04.07.2022, which is approved by the CoC by 100% voting.
The related documents including Form FA signed by the original applicant creditors are placed before us.
Considering the submission made by the learned RP appearing in person and documents placed before us, we allow the application, thereby allow to withdraw the CP(IB)/01/KOB/2022.
IA is accordingly allowed and disposed of.
CP(IB)/01/KOB/2022 stands withdrawn and disposed of.