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Judgment
Ld. Interim Resolution Professional (IRP) with his Counsel appears. Ld. Counsel for the Operational Creditor appears.
CA(IB) No. 1150/KB/2019 is an application filed under Section 12A of the Insolvency and Bankruptcy Code, 2016 read with Regulation 30A of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 by the IRP for the reasons that the matter was settled out of the Tribunal between the Operational Creditor and the Corporate Debtor and that committee of members not been constituted. It is submitted by the Ld. Counsel for the Operational Creditor that the entire debt has been paid and the IRP fees and costs has also been paid. Upon settlement prays for withdrawal of the CP, so also prays for withdrawal of the amount deposited in the Escrow Account vide order dated 27/08/2019 and amended on 02/09/2019.
Being satisfied that the matter was settled out of the Tribunal, permission is granted as prayed for. Registry is directed to refund the amount deposited by the Operational Creditor vide order dated 27/08/2019 within a week from this date to the Operational Creditor.
CA(IB) No. 1150/KB/2019 is allowed and disposed of accordingly.
Therefore, CP (IB) No. 1685/KB/2018 is disposed of as withdrawn vide order in CA 1150 of 2019. No order as to costs.
File is consigned to record.