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Judgment
5 paragraphs · 97 words
ORDER
Ld. Counsel Mr.V.Manivannan is present for the Applicant.
This is an Application seeking withdrawal of CIRP u/s 12A of the Insolvency and Bankruptcy Code, 2016 read with Regulation 30A(1)(b) of IBBI(Insolvency Resolution Process for Corporate Persons) Regulations, 2016. CoC in its 3rd CoC meeting on 22.02.2025 has recommended withdrawal of CIRP consequent to settlement reached between the parties within 100% voting. The settlement amount reached is Rs.55 Lakh.
In view of the above IA(IBC)/389/(CHE)/2025 is allowed, CIRP process is withdrawn with immediate effect and RP is discharged with immediate effect.
IA(IBC)/389/(CHE)/2025 and CP(IB)/66/CHE/2023 are disposed off.