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Judgment
ORDER
This is an Application filed by the Interim Resolution Professional for withdrawal of the Petition on the strength of decision of the sole member of the CoC recommending for withdrawal of this Petition in the meeting of the CoC held on 30.10.2019. Counsel for the Applicant submitted that Operational Creditor/ Petitioner in the Company Petition has received the due of Rs. 3,13,548/- as full and final settlement and as submitted Form-FA on 16.10.2019.
We have gone through the minutes of the meeting of CoC dated 30.10.2019 and Form-FA filed by the Petitioner and on being satisfied with the Application which is in accordance with Section 12A and regulation 30A of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2019, this Application is allowed and the Petition is ordered as withdrawn. IRP is discharged. Corporate Debtor is relieved from the rigor of the Code and the Corporate Debtor will function under the supervision of the Board of Directors.