AI Structured Summary
Not yet generated for this judgment
Judgment
11.06.2025: This appeal is filed against an impugned order dated 09.05.2025 whereby petition under Section 9 of the IBC, 2016 was admitted.
It is the submission of Learned Counsel for the appellant they have already settled the dispute with the Operational Creditor and that there is only a Financial Creditor, namely, HDFC Bank who has also given a no-objection for withdrawal of CIRP.
In any case, an application under Section 12A of the IBC, 2016 is pending before the Ld. NCLT and it is submitted the said application be directed to be disposed of at the earliest. The Learned Counsel appearing on behalf of the Respondent submits the COC has been formed on 08.06.2025.
In view of the submissions made by the Learned Counsel for the appellant as also a no-objection given by the HDFC Bank (page 4 of the additional affidavit), we direct the Ld. NCLT to take up the application viz. I.A. No. 2483 of 2025 under Section 12A of the IBC on 13.06.2025 and dispose it of at the earliest.
Since the application under Section 12A of the IBC is pending before the Ld. NCLT, the meeting(s), if any, proposed by the CoC shall be kept in abeyance till the disposal of such application under Section 12A. The cost of the CIRP shall be also considered by the Ld. NCLT while disposing of the application under Section 12A of IBC, 2016.
In view of the above, the appeal is disposed of. Pending application(s), if any, are also disposed of.