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Judgment
ORDER
Memo filed in IA No.639/2022 in pursuance of our order dated 06.07.2022. This memo is read as part of the earlier Application. The IRP filed this petition under Section 12A of IBC seeking leave of this Tribunal for withdrawal of the CP no79/9/HDB/2022, on the ground that parties have settled the matter amicably. In support of the plea of settlement photocopy of mutual understanding agreement between the parties also filed. A copy of Form FA dated 29.06.2022 signed by Operational Creditor also has been filed along with the petition. Learned RP reported that his fee and expenses has been paid and nothing is due. Learned Counsel for operational creditor Shri Sourabh Agarwal and Learned Counsel for Corporate debtor Shri Mayur Mundra, are present and confirmed the settlement.
In the light of the submissions, this Petition is allowed and the CIRP order dated 21.06.2022 passed against the corporate debtor is here by recalled and the Corporate Debtor is released from all the rigour of law and is allowed to function independently through its Board of Directors with immediate effect.