2020 (2) TMI 1075

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....l Member Goutham Shivshankar, Adv. for the Appellant. Tushar Bhushan, Pavan Bhushan and V. Venkadasalam, Advs. for the Respondent. ORDER 1. NTC Logistics India (P) Ltd.' (Operational Creditor) moved application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as 'I&B Code') for initiation of Corporate Insolvency Resolution Process of 'M/s C....

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.... Committee of Creditors. 4. Mr. V. Venkadasalam, Advocate appears on behalf of the Interim Resolution Professional. He submits that the Interim Resolution Professional has not been paid fee and cost incurred by him. He further states that a sum of Rs. 2/- lakh was paid to the Interim Resolution Professional and another sum of Rs. 2.75/- lakh is to be paid. 5. We have heard learned counsel for th....

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.... matter, in exercise of power conferred under Rule 11 of NCLAT Rules, 2016 and following the decision of Hon'ble Supreme Court in Swiss Ribbons (P.) Ltd. v. Union of India 152 SCL 365, we set aside the order, dated 7th November, 2019, passed by the Adjudicating Authority and dispose of the application under Section 9 as withdrawn. The Corporate Debtor is released from rigour of Corporate Insol....