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Judgment
This Appeal has been filed against the Order dated 29th September, 2022 by which the Adjudicating Authority has admitted the Application filed under Section 7 of Insolvency and Bankruptcy Code, 2016 by the Bank of India.
Learned Counsel for the Appellant at the very outset submitted that in view of the settlement of dues, the Bank of India has issued Form-FA to the IRP. Copy of which has also been sent to the Corporate Debtor. It is submitted that Form-FA have been sent for steps to be taken for filing the Application under Section 12-A for withdrawal of proceeding.
In view of the subsequent fact that Form-FA have been issued for filing Application under Section 12-A, we see no reason to entertain this Appeal. It shall be open for the Adjudicating Authority to proceed to pass appropriate order on Section 12-A Application.
We further observe that till the Orders are not passed on Section 12-A Application, further steps in pursuance of Impugned Order, shall be kept in abeyance.
Subject to above, the Appeal is dismissed.