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Judgment
1. Urmila Chakraborty For the IRP ORDER
Ld. Counsel for the financial creditor appears. Ld. Counsel for the IRP appears. None appears for the corporate debtor. CA(IB) 36/KB/20 is filed under Rule 11 of NCLT Rules for withdrawal of this application on the ground of settlement. We heard the Ld. Counsel for the financial creditor and Ld. Counsel for the IRP. CoC is yet to form. Since parties have settled the dispute, we permit withdrawal subject to corporate debtor deposits cost of Rs.50,000/- to the Prime Minister's National Relief Fund Online and produce receipt to the Registrar within a week.
We direct financial creditor to pay sum of Rs.50,000/- plus Rs.13,000/- to the IRP for expenses within a week. In view of the above, withdrawal is permitted. Main proceeding stands withdrawn and disposed off upon settlement.