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Judgment
Per: M.K.Shrawat, Member (Judicial):
ORDER (Oral)
This Bench has perused the order of the National Company Law Appellate Tribunal, New Delhi dated 28.02.2019 passed in Company Appeal (AT) (Insolvency) No.85 of 2019, titled as Anand Rai Vs. Walsons Services Pvt. Ltd. & Anr., wherein findings as per paras 7 and 8 are reproduced below:-
“7.In the result, the impugned order dated 7th January, 2019 is set aside. The application under Section 9 of IB & C filed by 1st Respondent-‘Operational Creditor’ is disposed of as withdrawn.
8.In effect, order(s) passed by the Adjudicating Authority appointing any ‘Interim Resolution Professional’, declaring moratorium, freezing of account and all other order(s) passed by the Adjudicating Authority pursuant to impugned order and action, taken by the ‘Interim Resolution Professional’, including the advertisement, if any, published in the newspaper calling for applications all such orders and actions are declared illegal and are set aside. The application preferred by Respondent under Section 9 of the I & B Code, 2016 is dismissed. Learned Adjudicating Authority will now close the proceeding. The ‘Corporate Debtor (Company)’ is released from all the rigour of law and is allowed to function independently through its Board of Directors from immediate effect.”
Since the Hon’ble National Company Law Appellate Tribunal has set aside the order of the National Company Law Tribunal, Chandigarh Bench dated 07.01.2019, therefore, this petition is being disposed of accordingly.
Learned counsel for the Resolution Professional has informed that the cost of the CIRP has already been paid/disbursed. Consequently, in view of the directions issued by the Hon’ble National Company Law Appellate Tribunal, vide order dated 28.02.2019, the instant petition stands disposed of to be consigned to the record room.