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Judgment
This is an application filed by IRP for seeking following reliefs:-
“a. That this Hon'ble Tribunal be pleased to allow the withdrawal of the captioned Company Petition under section 12A of the Code read with regulation 30A (1) (a) of the CIRP Regulations; and
b. For such other orders as may be necessary in the interest of justice.”
It is stated by Ld. Counsel for the IRP that this CD was put into CIRP vide order dated 02.02.2023. Subsequently, the applicant has received amount due from the CD and has filed an application seeking withdrawal of the CIRP proceedings against the CD. The fees of the IRP have been paid. In view of same we see no hurdle in allowing the present application filed under Section 12A for withdrawal of the CIRP proceedings against the CD.
Accordingly CIRP proceedings against the CD is ordered to be withdrawn; the moratorium order passed under Section 14 shall cease to have effect. The suspension of the board of directors of the CD is withdrawn. Further, the ROC is directed to remove the caption ‘under insolvency proceedings’ against the name of the company in the Register of Companies.
IA-930/2023 stands allowed and (IB)-770(PB)/2022 is dismissed as withdrawn. Any pending IA(s) stands disposed off in aforesaid terms. Copy of this order be sent to IBBI and the jurisdictional ROC.