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2021 (5) TMI 644 - NATIONAL COMPANY LAW TRIBUNAL , CHENNAI BENCHApplication for withdrawal of CIRP initiated against Corporate Debtor - HELD THAT:- The Application as filed by the Applicant/IRP as well as the sole Operational Creditor who had constituted the CoC had given its approval seeking withdrawal of the CIRP initiated by this Tribunal, based on the Application filed by the Operational Creditor/1st Respondent in Form 'FA' and also considering the Provisions of Section 12(A) and Regulations 30(A) of IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 as well this Application in relation to seeking for withdrawal of the CIRP is allowed. Let the reins of the Corporate Debtor with the IRP be handed over to the Board of Directors, whose powers stood suspended by virtue of initiation of the CIRP as against the Corporate Debtor.
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