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2020 (9) TMI 1207 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Financial Creditors - share purchase agreement with the Corporate Debtor - existence of debt and dispute or not - HELD THAT:- This Tribunal admitted the application appointing Mr. Amier Hamsa Ali Abbas Rawther as the Interim Resolution Professional. Now the Corporate Debtor namely M/s Sree Bhadra Parks and Resorts Limited filed an application under Rule 11 of the NCLT Rules to recall the order passed by this Tribunal and permit them to settle the matter. Along with the application “Form FA” for withdrawal of Corporate Insolvency Resolution Process has been filed, duly signed by the applicant stating that on 26.8.2020 settlement has been arrived for a total sum of ₹ 2,25,00,000/- as full and final settlement of the entire claim between the Corporate Debtor M/s Sree Bhadra Parks and Resorts Limited. In view of the settlement arrived between the parties by filing Form FA before this Tribunal and that the IRP stated that he has received his fees, the application stands disposed of.
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