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Judgment
ORDER
IA(IBC)126/2023
This application is filed by the RP seeking to take the constitution of the COC Report on record. Accordingly, the said report is taken on record and the application is disposed of.
IA(IBC)65/2023
This application is filed by the IRP u/s 12A of IBC, 2016 read with Regulation 30A of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, seeking to withdraw CP. No. 122/9/HDB/2020, which was admitted by this tribunal by order dated 15.12.2022. It is submitted that the parties have settled the matter and hence the RP filed this application seeking to withdraw this application.
According to section 12A, the Adjudicating Authority may allow the withdrawal of application admitted under section 7 or section 9 or section 10, on an application made by the applicant with the approval of 90% voting share of the Committee of Creditors (CoC).
Since, the parties have compromised and the application is filed in accordance with section 12 A, we find no reason to deny the parties the liberty of settling the matter amicably. Hence, we allow this application and consequently CP. No. 122/9/HDB/2020 is dismissed as withdrawn.