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Judgment
IA 234 of 2023
Application is filed by the RP under Section 12A IBC, 2016 read with Rule 11 of NCLT, 2016.
We heard Learned Counsel for the applicant, also perused the record.
The CoC in its meeting dated 11.02.2023 by 100% vote passed a resolution to withdraw the CIRP. We recorded this fact. Since the CoC passed a resolution by 100% vote for withdrawing the CIRP of the Corporate Debtor, we allow this application. Accordingly, CIRP stands withdrawn. The Corporate Debtor is released from all rigours of CIRP and moratorium stands vacated.
We direct the RP to handover custody of all documents and assets of the corporate debtor to the Suspended Management.
In view of this, IA 234 of 2023 stands disposed of as withdrawn.
IA 98 of 2023
Since the CIRP of the Corporate Debtor is withdrawn, this IA becomes infructuous. Hence, stands disposed of.