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2020 (9) TMI 702 - AT - Insolvency and BankruptcySettlement agreement - withdrawal of CIRP - HELD THAT:- Indeed, the settlement arrived at between the Parties are not in dispute. Further, pursuant to the ‘Memorandum of Understanding’ dated 01.09.2020, it is brought to the notice of this Tribunal that the 1st Respondent/Parsvnath Developers Ltd. had received the Demand Draft bearing No. 004069 for ₹ 12/- Lakhs from the Appellant. Added further, the Resolution Professional, Mr. Naresh Kumar Munjal informs this Tribunal that he is yet to receive the remuneration for the month of August and September, 2020 and in respect of the ‘Miscellaneous Expenses’, he had raised his invoice to an extent of ₹ 53,000/- etc. - In view of the fact that, the ‘Memorandum of Understanding’ dated 01.09.2020, was reached between the Parties culminating in settlement, this Tribunal recording the said fact disposes of the Appeal, but without costs. This Tribunal deems it fit and proper in directing the Resolution Professional, Mr. Naresh Kumar Munjal to file an Application under Section 12A of the I&B Code 2016, for ‘Withdrawal of Application’ before the Adjudicating Authority, within three days from today, without any delay. Soon after filing of the withdrawal of Application in terms of Section 12A of the Code, the Adjudicating Authority shall do the needful in this regard, within a period of one week thereafter.
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