TMI Blog2020 (2) TMI 542X X X X Extracts X X X X X X X X Extracts X X X X ..... ered favourably and the relief be granted on an urgent basis. Considering the facts and circumstances, the submission made and the available record, we are of the considered opinion that the prayer sought by the IRP in the current MA be allowed. The CIRP initiated is recalled and IRP is discharged from his role as IRP - the IRP is further directed to hand over the records/books to the managemen ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Express Private Limited against Gufic Bioscience Limited for initiating CIRP. This MA is listed on 28.11.2019, the Counsel for the Corporate Debtor prayed the Bench to consider and to pass appropriate orders on an urgent basis. 2. This MA is filed for seeking relief to allow the Operational Creditor, the original applicant to withdraw the Company Petition No. 1497/2019 and to order that the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ency Resolution Process for Corporate Persons) Regulation, 2016.The Operational Creditor and Corporate Debtor have executed Consent Terms on 25.10.2019. Pursuant to the said Consent Terms dated 25.10.2019, the Operational Creditor has received a sum of ₹ 34,03,572/- as full and final settlement amount. The Operational Creditor has received settlement amount of ₹ 34,03,572/- vide Cheque ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the prayer sought by the IRP in the current MA be allowed. 6. Accordingly, we hereby pass an order that the CIRP initiated vide order dated 22.10.2019 and 25.10.2019 in CP 1497/2019 is recalled and IRP is discharged from his role as IRP. We further direct the IRP to hand over the records/books to the management of the Corporate Debtor. 7. It is also worthwhile to record that before admi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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