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2019 (7) TMI 1423 - NATIONAL COMPANY LAW TRIBUNAL HYDERABAD BENCH, HYDERABADClosure of CIRP proceedings against Corporate Debtor - cessation of order of moratorium - HELD THAT:- In terms of Inherent powers envisaged under Rule 11 of NCLT Rules, 2016 and in view of the consent terms between the parties and non-formation of CoC, this Adjudicating Authority deems it just proper to Close the CIRP proceedings against the Corporate Debtor. The fees of the IRP shall be paid by the corporate debtor as per the terms agreed between the parties. The CIRP proceedings against the Corporate Debtor i.e., Ranga Particles Board Industries Limited shall stand closed and the order of moratorium shall stand ceased.
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