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2019 (6) TMI 1492 - AT - Insolvency and BankruptcyWithdrawal of admitted CIRP application - Appellant submitted that the Appellant wants to settle dispute and a draft for ₹ 33 lakhs payable to the 'Operational Creditors' is ready - HELD THAT:- Mr. Ajay Kumar Jain, 'Interim Resolution Professional' appears in person and submits that the parties have settled the matter and he has received the fees and cost. He further informs that the 'Committee of Creditors' have not been constituted and only one claim received from one of the 'Operational Creditor' - Taking into consideration the development that the parties have settled the matter and that the 'Committee of Creditors' have not been constituted, in exercise of powers conferred under Rule 11 of the National Company Law Appellate Tribunal Rules, 2016, we allow the settlement. The application preferred by the Respondent under Section 9 of the I&B Code is disposed of as withdrawn.
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