https://www.taxtmi.com/caselaws?id=445637 The court set aside the order admitting the Section 9 Application and closed the Corporate Insolvency Resolution Process (CIRP) following a settlement between the Corporate Debtor and the Operational Creditor. The Operational Creditor confirmed receipt of the agreed payment, leading to the closure of the CIRP. Additionally, the court directed the Operational Creditor to pay Rs. 2 Lakh to the Interim Resolution Professional (IRP) within three weeks to cover fees and expenses, warning of potential consequences for non-payment. en-us Fri, 10 Nov 2023 00:00:00 +0530 Sat, 11 Nov 2023 12:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=445637 The court set aside the order admitting the Section 9 Application and closed the Corporate Insolvency Resolution Process (CIRP) following a settlement between the Corporate Debtor and the Operational Creditor. The Operational Creditor confirmed receipt of the agreed payment, leading to the closure of the CIRP. Additionally, the court directed the Operational Creditor to pay Rs. 2 Lakh to the Interim Resolution Professional (IRP) within three weeks to cover fees and expenses, warning of potential consequences for non-payment. Case-Laws Insolvency and Bankruptcy Fri, 10 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=445637