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Judgment
3 paragraphs · 153 wordsThis is an application on behalf of the Operational Creditor (OC) under Order 43 Rule 1 of CPC read with relevant provision of IB Code, 2016.
We have heard the submissions made by both the Counsels as well as by the submissions made in the application, it is confirmed in this application that a payment of Rs. 2,50,000/- has been made to the OC by the Corporate Debtor (CD) apart from the amount of Rs. 9,15,540/- lying with the Registry and the OC has prayed that the same may be released in favour of the OC.
The OC is permitted to withdraw the said amount from the office of the Registry in view of the settlement arrived at in between the parties. In view of the above, the application filed under Section 9 bearing No. IB-1838/ND/2019 is dismissed as withdrawn in terms of Rule 8 of IBC (Application to Adjudicating Authority Rules, 2016).