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Judgment
Ld. Counsel for the Operational Creditor and Corporate Debtor appeared.
CA(IB)No.1623/KB/2019 is filed for recalling order of admission of the Corporate Debtor in CIRP on the ground that parties have settled the dispute today. Terms of settlement are filed. Both Ld. Counsels submitted that matter is settled. Hence, by invoking our inherent jurisdiction under Rule 11 of NCLT Rules, we set aside the order of admission of the Corporate Debtor in CIRP passed by this Bench subject to cost of Rs. 75,000 (Rupees Seventy-Five Thousand) to be deposited to the Prime Minister's National Relief Fund. CA(IB)No.1623/KB/2019 is disposed of.
Banks are directed to allow the Corporate Debtor to run the accounts.
Proceedings are disposed of.