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Judgment
2 paragraphs · 98 words
This application has been filed on behalf of the IRP under Section 12 A of the Code for withdrawal of the CIRP proceedings initiated against the Corporate Debtor. Ld. Counsel for the IRP states that the matter is settled between the parties and the financial creditor wants to withdraw the present petition i.e. IB/705/ND/2021. The CIRP costs has already been paid as stated by Ld. IRP Mr. Abhishek Anand.
In view of the same, the present application i.e. IA/4612/ND/2022 stands allowed and IB/705/ND/2021 stands dismissed as withdrawn. Corporate Debtor is free from the rigours of the CIRP proceedings.