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2021 (5) TMI 571 - Tri - Insolvency and BankruptcyCIRP process - discontinuation of Interim Resolution Professional in the Corporate Insolvency Resolution Process of Shree Sai Rolling Mills (India) Pvt. Ltd. - amicable settlement between the IRP and the FC - HELD THAT:- The Corporate Resolution Process (CIRP) of Shree Sai Rolling Mills (India) Pvt. Ltd. has been set aside with effect from 20.06.2020, but it is made clear that though the CIRP is set aside, but the Application filed by the FC under Section 7 of the IBC is not dismissed/is alive. It is further made it clear that both the FC and the CD are at liberty to come before this Bench with regard to the petition filed by the FC under Section 7 of IBC after the outcome of the appeal preferred by the FC before the Hon’ble Supreme Court against the impugned order of the Hon’ble NCLAT dated 18.06.2020. The IRP, Mr. Anil Agarwal is hereby relieved, as prayed for, from his assignment with effect from 20.06.2020 the day on his receipt of the Order of the Hon’ble NCLAT and also at the request made by the CD after presenting the order dated 18/06/2020 of Hon’ble NCLAT on 20/06/2020 - It is also taken on record that the matter relating to the payment of fees and other CIRP cost have been settled amicably between the IRP and the FC. However, we do not appreciate the issue relating to the IRP fees / CIRP cost is brought before this Bench for adjudication, when the Application is filed under Section 7 of IBC and IRP is appointed only at the request of the FC and with the consent letter of the IRP. Application disposed off
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