TMI Blog2020 (9) TMI 1207X X X X Extracts X X X X X X X X Extracts X X X X ..... h the application Form FA for withdrawal of Corporate Insolvency Resolution Process has been filed, duly signed by the applicant stating that on 26.8.2020 settlement has been arrived for a total sum of ₹ 2,25,00,000/- as full and final settlement of the entire claim between the Corporate Debtor M/s Sree Bhadra Parks and Resorts Limited. In view of the settlement arrived between the parties by filing Form FA before this Tribunal and that the IRP stated that he has received his fees, the application stands disposed of. - IBA/13/KOB/2020 - - - Dated:- 24-9-2020 - Mr. Ashok Kumar Borah, J. For Operational Creditor: Ms. Jayanthi K. Shah, Advocate For Corporate Debtor: Mr. P.V.George (Puthiyedam), Advocate ORDER ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ribunal admitted the application vide order dated 25.8.2020 appointing Mr. Amier Hamsa Ali Abbas Rawther having Registration No.IBBI/IPA-001/IP-P01727/2019-2020/12620 as the Interim Resolution Professional. 5. Now the Corporate Debtor namely M/s Sree Bhadra Parks and Resorts Limited filed an application under Rule 11 of the NCLT Rules to recall the order passed by this Tribunal on 25.8.2020 in IBA/13/KOB/2020 and permit them to settle the matter. Along with the application Form FA for withdrawal of Corporate Insolvency Resolution Process has been filed, duly signed by the applicant in IBA No.13/KOB/2020 M/s Sri Ramani Resorts and Hotels Pvt. Ltd. stating that on 26.8.2020 settlement has been arrived for a total sum of ₹ 2,25,00,0 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e fresh application, if the settlement agreement as above is not complied with by the Corporate Debtor. It is also stated that the expenses of the IRP have already been paid. 7. The IRP through mail dated 24.9.2020 informed this Tribunal that he has been paid his fees by the parties and that no amount due to be paid to him. 8. In view of the settlement arrived between the parties by filing Form FA before this Tribunal and that the IRP stated that he has received his fees, the IBA/13/KOB/2020 stands disposed of. However, the applicant is at liberty to file fresh application, if the Corporate Debtor has not complied with the conditions stipulated in the settlement as mentioned in Form FA. - - TaxTMI - TMITax - Insolvency & Bankrupt ..... X X X X Extracts X X X X X X X X Extracts X X X X
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