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2019 (9) TMI 24 - AT - Insolvency and BankruptcyMaintainability of application - initiation of Corporate Insolvency Resolution Process - Section 9 of the Insolvency and Bankruptcy Code, 2016 - ‘Committee of Creditors’ have not been constituted - HELD THAT:- The ‘Corporate Debtor’ is a small scale industry and the parties have reached settlement; the ‘Committee of Creditors’ have not been constituted and till date no claim has been received except the ‘Operational Creditor’ (Respondent before us), who also has not filed a claim, in view of the settlement; we set aside the impugned order dated 10th April, 2019 and allow the respondent ‘Operational Creditor’ to withdraw the application under Section 9 of the I&B Code. Fee and resolution cost of the ‘Interim Resolution Professional’ - HELD THAT:- The Corporate Debtor will pay a sum or ₹ 1,20,000/- in his favour within three weeks. The application preferred by the Respondent under Section 9 of the I&B Code is disposed of as withdrawn.
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