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2019 (2) TMI 1750 - AT - Insolvency and BankruptcyApplication for withdrawal of the Insolvency Resolution Proceeding - Corporate Debtor reached settlement with the Respondent - Section 7 of the I&B Code for initiation of Corporate Insolvency Resolution Process - HELD THAT:- Learned counsel appearing on behalf of the Resolution Professional accepts that no Committee of Creditors was constituted and the parties have reached settlement. This is also accepted by learned counsel for Respondent Nos. 1, 2 and 3 (Financial Creditors). In the present case, as the parties have reached settlement before constitution of the Committee of Creditors, exercising power under Rule 11 of the National Company Law Appellate Tribunal Rules, 2016, the impugned order dated 16th January, 2019 is set aside and proceedings dismissed as withdrawn.
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