2019 (8) TMI 1440 - Tri - Companies Law

Termination of petition in view of the settlement between the parties - Rule Il of the NCLT Rules, 2016 - HELD THAT - Ld. IRP is present in person and represents claims have been received from the Financial Creditor as well as all other Operational Creditors and in the meantime, COC has also been constituted and in the circumstances, let this settlement which has prompted this Application be placed before the COC for its consideration. Ld. IRP to report to COC in relation to the settlement and place it before it in the meeting to be convened by the IRP in this regard.

Summary

The judgment by the National Company Law Tribunal, New Delhi involves an application seeking termination of CP No.IB-179/ND/19 due to a settlement between the parties. The IRP will report to the COC regarding the settlement for its consideration in a meeting to be convened by the IRP.