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Judgment
ORDER
Adv. Pranav Avhad a/w Adv. Darshna Naval for the Operational Creditor.
Mr. Manoj Mishra, Advocate appeared for the IRP/Applicant.
Eshna Kumar, Akshat Maheshwari, Advocates for the suspended director.
Learned Counsel for the IRP appears and informs that the CoC was not constituted in the case of Corporate Debtor.
It is further submitted that debt claim in the application has been settled. Accordingly, seeks withdrawal of the CIRP.
Pursuant to that Corporate Debtor shall be out of rigors of the CIRP. The Moratorium u/s 14 of the Code shall cease to be in operation. The IRP/RP shall hand over the records and custody of assets to the suspended board.
Suspended Board is directed to settle fees of the IRP for the outgoing cost of CIRP.
In view of the aforesaid, IA No. 1296/2024 is allowed and disposed of.
Consequently, C.P. (IB)/1062(MB)2023 is disposed of as withdrawn.