TMI Blog2020 (2) TMI 1121X X X X Extracts X X X X X X X X Extracts X X X X ..... and application having filed by 'M/s Syndicate Interglobe' (Operational Creditor) for withdrawal of application under section 9, the Adjudicating Authority instead of adjourning the matter should have passed appropriate order in exercise of power conferred under Rule 11 of the NCLT Rules, 2016. The Adjudicating Authority having failed to do so, we exercise inherent power conferred under R ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nal Creditor) filed application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as 'I B Code') for initiation of Corporate Insolvency Resolution Process against 'M/s Global Fragrances (P) Ltd.' (Corporate Debtor). The application was rejected by the Adjudicating Authority (National Company Law Tribunal), New Delhi, Court-III by order dated 25th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ditor filed application for withdrawal of application under Section 9 on 30th October, 2019 but the same was adjourned by impugned order dated 31st October, 2019. 4. Having heard learned counsel for the parties, we are of the view that the parties having settled the matter on 30th October, 2019 i.e. before the constitution of Committee of Creditors and application having filed by 'M/s Syndi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e the proceeding. So far fee and cost incurred during Corporate Insolvency Resolution Process by Interim Resolution Professional is concerned, he having worked for about 45 days and cost incurred for publication etc. as per his statement, we ascertain the fee and cost at ₹ 2.50 Lakhs (Rupees Two Lakhs Fifty Thousand Only). The Appellant has agreed to pay the said amount to the Interim Resolu ..... X X X X Extracts X X X X X X X X Extracts X X X X
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