TMI Blog2019 (5) TMI 1250X X X X Extracts X X X X X X X X Extracts X X X X ..... s . Following the decision of the Hon ble Supreme in SWISS RIBBONS PVT. LTD. AND ANR. VERSUS UNION OF INDIA AND ORS. [ 2019 (1) TMI 1508 - SUPREME COURT] , we allow the Operational Creditor to withdraw the application. The impugned dated 7th January, 2019 is set aside. The application under Section 9 of IB C filed by 1st Respondent Operation Creditor is disposed of as withdrawn. - Co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... st Respondent Walson Services Private Limited ( Operational Creditor ). Order of Moratorium has been passed. 2. Learned Counsel appearing on behalf of the Appellant submits that the parties have reached settlement on 18th January, 2019 much prior to the constitution of Committee of Creditors . In terms of the settlement, cheques bearing nos. 037322 037325, both dated 18th Ja ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed settlement prior to the constitution of the Committee of Creditors . Following the decision of the Hon ble Supreme in Swiss Ribbons Pvt. Ltd Anr. Vs. Union of India Ors in Writ Petition(C) No. 99 of 2018 (at paragraph-52), we allow the Operational Creditor to withdraw the application. 7. In the result, the impugned dated 7th January, 2019 is set aside. The applicati ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f law and is allowed to function independently through its Board of Directors from immediate effect. 9. The Corporate Debtor will pay rest of the amount of ₹ 7 lakhs towards fee and cost of the Resolution Professional after adjusting the amount if any paid in the meantime within a period of 15 days. The appeal stands allowed with the aforesaid observations. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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