TMI Blog2019 (6) TMI 1276X X X X Extracts X X X X X X X X Extracts X X X X ..... l settlement prior to issuance of the impugned order and finally settled the matter on 5th December, 2018 i.e. prior to the constitution of the Committee of Creditors , in the light of the decision of the Hon ble Supreme Court in SWISS RIBBONS PVT. LTD. AND ANR. VERSUS UNION OF INDIA AND ORS. [ 2019 (1) TMI 1508 - SUPREME COURT ], we allow the Respondent to withdraw the application under Section ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... For The Appellants : Mr. Rakesh Kumar and Ms. Chetna Bisht, Advocates For The Respondents : Mr. Amit Agarwal, FCS and Mr. Pankaj Agarwal and Mr. Sameer Rastogi, Advocates ORDER This appeal has been preferred by the Appellant(s), Directors/ Shareholders of M/s. Crown Realtech Private Limited - ( Corporate Debtor ) aga ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... gned order dated 3rd December, 2018 was passed. It is stated that in terms of such provisional settlement, a sum of ₹ 7 lakh was paid on 14th November, 2018 i.e. prior to the impugned order. After the impugned order, the formal settlement has been reached on 5th December, 2018 but much prior to the constitution of the Committee of Creditors . 3. Mr. Sameer Rastogi, Advocat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ase, as we find that the parties have reached provisional settlement prior to issuance of the impugned order and finally settled the matter on 5th December, 2018 i.e. prior to the constitution of the Committee of Creditors , in the light of the decision of the Hon ble Supreme Court in Swiss Ribbons Pvt. Ltd. Anr. Vs. Union of India Ors. , Writ Petition (Civil) No. 99/2018 (2019 SCC OnLine ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he rigour of law and is allowed to function independently through its Board of Directors from immediate effect. 7. The Interim Resolution Professional submits that he is entitled to receive ₹ 3, 28, 000/- towards the fees and cost of Resolution Process . Out of the same, a sum of ₹ 1,50,000/- has been paid. In the circumstance, we direct the Corporate Debtor to p ..... X X X X Extracts X X X X X X X X Extracts X X X X
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