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2019 (4) TMI 1909 - AT - Insolvency and BankruptcyPermission for withdrawal of application - the terms of settlement reached finality and implemented on 20th February, 2019 - HELD THAT:- The present case is covered by the decision of Honble Supreme Court in Swiss Ribbons Pvt. Ltd. & Anr. Vs. Union of India & Ors. [2019 (1) TMI 1508 - SUPREME COURT] and the Adjudicating Authority should have exercised its inherent power and closed the application under Section 7. Mr. Arvind Sinha, Advocate wants to file an intervention application on behalf of one of the Financial Creditor. However, in view of the settlement reached such prayer is not allowed. If any Financial Creditor wants to file claim against the Corporate Debtor, he may move before the appropriate forum for appropriate relief. The impugned order dated 13th March, 2019 is set aside and the prayer made on behalf of the Financial Creditor Oriental Bank of Commerce is accepted and Financial Creditor is allowed to withdraw its application under Section 7, which stands disposed of as withdrawn. Application dismissed as withdrawn.
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