2019 (12) TMI 1375

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....( J ) And Narender Kumar Bhola , Member ( T ) For the Appellant : Mano Ranjani For the IRP : Koteswara Rao Gutta ORDER Ratakonda Murali, Member (J) 1. The Application is filed by the Interim Resolution Professional under Section 12A of I&B Code, 2016 Read with Regulation 30A (1)(a) of I&B Code(CIRP) Regulations, 2016 seeking permission to withdraw the Company Petition i.e CP(IB) No.....

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.... both the parties approached the IRP stating that settlement has been reached between the corporate debtor and operational creditor. d) It is averred that full and final settlement of the claim of Rs. 13,53,951(Thirteen lakhs fifty three thousand Nine hundred and fifty one) along with interest @ 24% p.a has been settled at Rs. 6,50,000/-(Six Lakhs, Fifty Thousand Only). Copy of the withdr....

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....gulations, 2016 were accordingly amended and as per the amended Regulations, Under Regulation 30 A(1)(a) "An application for withdrawal Under Section 12A may be made to the Adjudicating Authority before the constitution of the Committee, by the applicant through the IRP" g) It is averred that Corporate debtor made the payment of Rs. 84,000/- to the IRP towards Cost for purposes of Clauses....

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....ate insolvency Resolution process) Regulations, 2016. The Petition filed under Section 9 by the Operational Creditor was admitted by this tribunal on 04.10.2019 and ordered Corporate Insolvency Resolution Process against Corporate Debtor. Interim Resolution Professional reported to the Tribunal that Parties settled the matter and requested the tribunal to withdraw the Petition. 7. This applicat....