The matter is taken up through Virtual Hearing (VC).
IA No. 2005/2023 - Mr. Hemant Shetye appeared for the applicant. Adv. Mayur Sonavane appeared for the Operational Creditor. The present application is filed by Mr. Hemant Shripad Shetye, IRP of R-Brands Lifestyle Pvt. Ltd. under Section 12A of the Insolvency & Bankruptcy Code, 2016 r/w Regulation 30A of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate persons) Regulations, 2016 for withdrawal of the C.P.(IB)/544/2020 as the matter has been settled between the parties.
The Applicant further submits that the Operational creditor has submitted Form-FA dated 10.05.2023 for withdrawal of CIRP process.
After hearing the submissions made by the IRP and upon perusing the material available on record, this Bench feels that the above application deserves to be allowed and accordingly, the IA No. 2005/2023 is allowed and CP 544/2020 stands disposed of having been compromised by withdrawing the CIRP order dated 02.05.2023 passed by this Bench and also by releasing the Corporate Debtor from all rigours of moratorium.
In view of the disposal of the above Company Petition, all the pending IA’s and MA’s, if any, also stand disposed of.
File be closed and consigned to record.
