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2023 (8) TMI 1156 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL , PRINCIPAL BENCH , NEW DELHIWithdrawal of application u/s 7 which was admitted - Acceptance of the One Time Settlement (OTS) - No intent to proceed further with CIRP - HELD THAT:- In view of the acceptance of OTS, no purpose shall be served in proceeding the CIRP any further - the CIRP proceedings are closed and the order impugned dated 23.11.2022 is set aside. Liberty is given to the Canara Bank for revival, if any, such circumstances arise. In view of the fact that CoC has not been constituted in pursuance of the Interim Order passed by this Tribunal, the Applicants (SRS Private Investments Powai Ltd. and ICICI Bank) are at liberty to take appropriate steps in accordance with law. IRP fees and expenses shall be paid within two weeks by the Appellant. Appeal disposed off.
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