AI Structured Summary
Not yet generated for this judgment
Judgment
(Hybrid Mode)
Heard Ld. Counsel for Appellant, Ld Counsel for Financial Creditor and Ld. Counsel appearing for the Resolution Professional.
This Appeal has been filed against the order dated 09/03/2026 passed by National Company Law Tribunal, New Delhi Bench, Court – II, by which Section 7 Application filed by M/s Kaliber Associates Private Limited, the Respondent No. 1 herein, has been admitted and Corporate Insolvency Resolution Process has commenced. When the Appeal was taken on 16/03/2026, following order was passed :
ORDER
“Appellant has e-filed an Application yesterday praying for amendment of Memo of Parties.
Amended Memo has been filed along with Application. We allow the Application.
Let the Appellant amend the Memo. Ld. Counsel for Appellant submits that Section 7 Application was filed for amount of Rs. 2.6 crores. The Corporate Debtor is managing a Hotel run by the Marriott Group. He submitted that Appellant has also approached the financial creditor for settling the issues between the Parties.
Appellant prays that Appeal be taken after a week.
Ld. Counsel for IRP submits that publication has already been made in pursuance of order dated 09/03/2026.
Till next date, no further steps to be taken by the IRP.
As prayed, list this Appeal on 24/03/2026.”
Ld. Counsel for Appellant as well as the Ld. Counsel for the Financial Creditor submits that settlement has already been entered between the Parties and the Financial creditor shall give Form FA to the Resolution Professional to file Section 12A Application to withdraw the CIRP.
Let Financial Creditor give Form FA to the RP within two weeks from today as prayed.
RP to file 12AApplication within further period of two weeks. Let the 12A Application be decided by the Adjudicating Authority in accordance with law as laid down by the Hon’ble Supreme Court in GLAS Trust Company LLC vs BYJU Raveendran & Ors.
In view of the aforesaid, we see no reason to keep the Appeal pending. Further steps shall be taken as per the order of the Adjudicating Authority passed in 12A Application.
Appeal Disposed of.