9911796707
TMI Blog2019 (6) TMI 1276X X X X Extracts X X X X X X X X Extracts X X X X ..... ss - Corporate Debtor - Section 7 of the Insolvency and Bankruptcy Code, 2016 - HELD THAT:- In the present case, as we find that the parties have reached provisional settlement prior to issuance of the impugned order and finally settled the matter on 5th December, 2018 i.e. prior to the constitution of the Committee of Creditors , in the light of the decision of the Hon ble Supreme Court in SWISS ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... J. Mukhopadhaya, Chairperson And Mr A. I. S. Cheema, Member (Judicial) For The Appellants : Mr. Rakesh Kumar and Ms. Chetna Bisht, Advocates For The Respondents : Mr. Amit Agarwal, FCS and Mr. Pankaj Agarwal and Mr. Sameer Rastogi, Advocates ORDER This appeal has been preferred by the Appellant(s), Directors/ Shareholders of M/s. Crown Realtech Private Limited - ( Corporate Debtor ) against the o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 18 was passed. It is stated that in terms of such provisional settlement, a sum of ₹ 7 lakh was paid on 14th November, 2018 i.e. prior to the impugned order. After the impugned order, the formal settlement has been reached on 5th December, 2018 but much prior to the constitution of the Committee of Creditors . 3. Mr. Sameer Rastogi, Advocate appearing on behalf of the Respondent- Mr. Puneet ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... gned order and finally settled the matter on 5th December, 2018 i.e. prior to the constitution of the Committee of Creditors , in the light of the decision of the Hon ble Supreme Court in Swiss Ribbons Pvt. Ltd. Anr. Vs. Union of India Ors. , Writ Petition (Civil) No. 99/2018 (2019 SCC OnLine SC 73) , we allow the Respondent to withdraw the application under Section 7. We, accordingly, set aside t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lution Professional submits that he is entitled to receive ₹ 3, 28, 000/- towards the fees and cost of Resolution Process . Out of the same, a sum of ₹ 1,50,000/- has been paid. In the circumstance, we direct the Corporate Debtor to pay the rest of the amount of ₹ 1, 78, 000/- to Mr. Amit Agarwal, the Interim Resolution Professional within three weeks. The appeal is allowed with ..... X X X X Extracts X X X X X X X X Extracts X X X X
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