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Judgment
6 paragraphs · 197 wordsI.A. 2635/2021
The above application is filed by the IRP, Mr. Jagdish Ratanlal Ahuja under section 12A of the Code for withdrawing the main Company Petition 1847 of 2019 in view of the settlement entered into between the Operational Creditor and the Corporate Debtor. The Operational Creditor has received an amount of 7,00,000/- against the total amount of 13,93,534.25/- towards full and final settlement.
The Interim Resolution Professional has issued an advertisement for invitation of the claims, but till date no claims have been received by the Interim Resolution Professional therefore the Committee of Creditor has not been constituted.
The Operational Creditor has also paid the fees of the IRP in a sum of Rs. 4,34,370/- (including GST).
The Applicant further submits that the Operational Creditor has submitted Form FA dated 01.11.2021 for withdrawal of CIRP process.
After hearing the submissions made by the IRP and upon perusing the material available on record, this Bench feels that the above I.A. deserves to be allowed and accordingly, the same is allowed and the CIRP admission order dated 22.09.2021 passed by this Bench against the Corporate Debtor is withdrawn by releasing the Corporate Debtor from all rigours of moratorium.