TMI Blog2019 (2) TMI 1676X X X X Extracts X X X X X X X X Extracts X X X X ..... uthority appointing Interim Resolution Professional , declaring moratorium, freezing of account, and all other order (s) passed by the Adjudicating Authority pursuant to impugned order and action, if any, taken by the Interim Resolution Professional , including the advertisement published in the newspaper calling for applications all such orders and actions are declared illegal and are set aside. The application preferred by Respondent under Section 9 of the I B Code is dismissed. The Adjudicating Authority will fix the fee of Interim Resolution Professional and the Corporate Debtor will pay the fees of the Interim Resolution Professional for the period he has functioned - Appeal allowed. - Company Appeal (AT) (Insolvency) No ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion under Section 9 of the I B Code, 2016. It is also informed that parties have already settled the claim and nothing payable to the respondents (Operational Creditor). Let notice be issued on respondents by Speed Post. The requisite be filed by 26th December, 2018 by 11:00 AM. If the appellant provides email address of the respondents, let notice be issued through e-mail also. Post the matter for admission before the 1st Court on 29th January, 2019 within two cases. Appeal may be disposed of at the stage of admission. Until further orders, the operation of the impugned order dated 19th December, 2018 passed in CP (IB) No. 228/KB/2018 by NCLT Kolkata Bench shall remain stayed. The Resolution Professional, if joined ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... not yet constituted, a party can approach the NCLT directly, which Tribunal may, in exercise of its inherent powers under Rule 11 of the NCLT Rules, 2016, allow or disallow an application for withdrawal or settlement. This will be decided after hearing all the concerned parties and considering all relevant factors on the facts of each case. 7. In view of the fact that the parties have now settled the matter prior to the constitution of the Committee of Creditors and the Adjudicating Authority has failed to notice that the principal amount has already been paid and original plea of the Corporate Debtor was that no interest was payable in terms of the Agreement/ Contract, we set aside the impugned order dated 19th December, ..... X X X X Extracts X X X X X X X X Extracts X X X X
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