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Judgment
Per: Rajeswara Rao Vittanala, Member (Judicial)
C.P.(IB)No.159/BB/2017 is filed by Rajeev Shetty ('Petitioner/Operational Creditor') U/s 9 of the IBC, 2016, R/w Rule 6 of the I&B (AAA) Rules, 2016, by inter alia seeking to initiate Corporate Insolvency Resolution Process (CIRP) in respect of M/s.Skyline Construction & Housing Pvt. Ltd ('Respondent/Corporate Debtor'), on the ground that it has committed default for an amount of Rs.58,68,768/- (Rupees Fifty Eight Lakhs Sixty Eight Thousand Seven Hundred and Sixty Eight Only) with 18% interest from 10.06.2015.
The Adjudicating Authority, after considering the matter has admitted the case, vide order dated 27th November, 2019, by initiating CIRP, appointing Mr. S. Viswanathan, as IRP, imposing moratorium etc.
Aggrieved by the order, Mr. Dhiraj Prabhu, Promoter of M/s.Skyline Construction & Housing Pvt. Ltd. (Corporate Debtor) has filed Company Appeal (AT) (Insolvency) No.1501 of 2019 before the Hon'ble NCLAT. Basing on the settlement made between the parties, the Appeal was allotted by an order dated 07.02.2020 by setting aside the impugned order dated 27th November, 2019.
Since, the Hon'ble NCLAT has already set aside the impugned order dated 27th November, 2019, passed by this Adjudicating Authority, there is nothing to remains to be adjudicated in the case , and thus it became infructuous.
In the result, C.P.(IB)No.159/BB/2017 is dismissed as infructuous.