TMI Blog2020 (3) TMI 1286X X X X Extracts X X X X X X X X Extracts X X X X ..... wal of application is allowed. Accordingly, moratorium so granted under Section 14 of the IB Code ceased to have effect and IRP is discharge from the duties. The Operational Creditor is directed to clear the dues of IRP as on today. It is submitted by the Learned Lawyer for the Operational Creditor that they have already cleared the dues of the IRP - The Adjudicating Authority do not find any impe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ew of that he filed this application through IRP for withdrawal of the case and duly executed Form-FA. Gone through the records. It is found that the CP(IB) 250/2019 was admitted on 08.01.2020 and Mr. Paresh Chandulal Mehta was appointed as IRP. On 18.02.2020, the parties have entered into mutual settlement. It is further submitted by Learned Lawyer for the IRP that COC has not yet constituted. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... LT 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. In view of the above observation of the Hon'ble Supreme Court that the Adjudicating Authority do not find any impediment in allowing the petition so filed by the Operational Creditor unde ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
