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Judgment
Mr. Rohit Gupta, Ld. Counsel for the RP present. Mr. Kajal Singh a/w Mr. Rahul Gaikwad, Ld. Counsel for the Corporate Debtor present.
This is an Application filed by the RP under Section 12A of the Code for withdrawal of the Company Petition, which was admitted by this Bench on 05.01.2023. Ld. Counsel for the RP submits that the COC, with 100% voting, have passed a resolution in its 3rd Meeting held on 11.07.2023 for withdrawal of CIRP in the case of Corporate Debtor. The RP also filed form FA dated 07.07.2023.
Since the conditions for withdrawal for CIRP u/s 12(A) r/w regulation 30(A) of Insolvency and Bankruptcy Code Board of India (Insolvency Process for Corporate Persons) Regulations 2016 are complete, this Bench has no objection for withdrawal of CIRP.
Accordingly, the Corporate Debtor is brought out from the rigors of CIRP and the RP is directed to handover the charge of the Assets and Affairs of the Suspended Members of the Corporate Debtor back. Ld. Counsel for the RP informed this Bench that his dues has been fully paid. RP is discharged from his duties.
File be consigned to the records.
In view of above, the IA 3121/2023 is allowed and disposed of and C.P. (IB)/271(MB)2022 is closed.