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2022 (3) TMI 990 - NATIONAL COMPANY LAW TRIBUNAL , KOCHI BENCHSeeking withdrawal of CIRP application - Section 12A of the Insolvency and Bankruptcy Code, 2016 read with Regulation 30A(1)(b) of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 - HELD THAT:- In view of the Resolution passed by the CoC in the 1st CoC Meeting dated 11th February 2022 and filing of Form-FA by the Interim Resolution Professional seeking withdrawal of CP(IB)/34/KOB/2021 with 100% voting right, nothing further to be decided in the matter. Since nothing has been stated by the IRP regarding the payment received by him, it is presumed that he has received the fee and expenses from the CoC. The Corporate Debtor is relieved from the rigors of CIRP and consequently the IRP is discharged of his duties. The Powers of the Board of Directors stand restored and the Company is directed to operate under the management of its Board of Directors - Application allowed.
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