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2021 (4) TMI 1358 - AT - Insolvency and BankruptcyRejection of recall of order - Application filed under Section 7 of IBC withdrawn by the Appellant - Adjudicating Authority had ignored CoC formed after settlement was informed to IRP - HELD THAT:- It is difficult to take a different view from the Adjudicating Authority. There is difference between withdrawal simplicitor making statement that parties have settled. It is different when bringing the settlement on record, and making it a part of the Order of withdrawal liberty is taken and brought on record to restore the proceedings in case of default. IBC is not a recovery proceeding where because the money or part of it has not come, the party may repeatedly come to the Court. Adjudicating Authority has rightly observed that no liberty to revive was there and so declined to interfere. The Appellant would be at liberty to pursue other remedies in law. There are no substance in the Appeal to entertain the Appeal - The Appeal is dismissed.
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