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Judgment
ORDER
Heard both sides. Learned Senior Counsel Mr. P.H. Arvindh Pandian, appearing for the ‘Appellant’ and Ms. Revathi Manivannan appearing for 2nd Respondent’ BGR Energy Systems Limited and the same is hereby recorded.
In the instant Comp. App. (AT)(CH)(Ins) No.122 of 2024, the ‘Appellant’ as well as the 2nd Respondent, have filed a ‘Joint Memo’ dated 10.04.2024 before this ‘Tribunal’, Today, i.e. 15.04.2024 – vide Diary No.644.
On behalf of the 2nd Respondent side, there is no ‘objection’ for the ‘Joint Memo’, filed by the parties and setting aside the ‘Impugned Order’ dated 03.04.2024 in CP(IB) No.24/9/AMR/2021 passed by the ‘Adjudicating Authority’/‘Tribunal’ National Company Law Tribunal, Amaravathi Bench, of course, in terms of the ‘Joint Memo’ filed by the ‘Parties’.
In view of the fact that the parties, viz. 2nd Respondent/‘Operational Creditor’ and the ‘Corporate Debtor’, have agreed to the ‘terms of Settlement’ which are duly recorded in the ‘Memorandum of Settlement’ dated 03.04.2024 and have agreed to resolve dispute in terms thereof, this ‘Tribunal’, recording the said fact, ‘allows’ the instant Comp. App. (AT)(CH) (Ins) No.l22 of 2024 by setting aside the ‘Impugned Order’ dated 03.04.2024 in CP(IB) No.24/9/AMR/2021 passed by the ‘Adjudicating Authority’/‘Tribunal’ National Company Law Tribunal, Amaravathi Bench, consequently the main CP(IB) No.24/9/AMR/2021 passed by the ‘Adjudicating Authority’/‘Tribunal’ National Company Law Tribunal, Amaravathi Bench, is ‘Dismissed’. No costs. Connected pending I.A.s are closed.
Liberty is granted to the ‘1st Respondent’/‘IRP’ of BGR Energy Systems Limited in the instant Comp. App. (AT)(CH)(Ins) No.122 of 2024, to ‘move’/‘prefer’ an ‘Application’ before the ‘Adjudicating Authority’/‘Tribunal’ for determining her Fees as per ‘Insolvency and Bankruptcy Code, 2016’ and ‘IBBI Regulations’.