9911796707
TMI Blog2021 (5) TMI 246X X X X Extracts X X X X X X X X Extracts X X X X ..... ng of the Application under Section 19(2) as well as the present Application and for filing a Counter to the Application as filed by the erstwhile Director under Section 60(5) of the IBC, 2016. Since already a sum of ₹ 2,00,000/- as represented by the Operational Creditor seems to have been paid and the additional cost in a sum of ₹ 75,000/- seems to have been incurred in relation to the legal cost, in view of non-cooperation on the part of the personnel of the Corporate Debtor and also in defending the Application as filed by the erstwhile Director of the Corporate Debtor, it is appropriate that the balance sum of ₹ 73,938.45 is required to be defrayed by the Corporate Debtor. The CIRP initiated against the Corporate D ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... reditors (CoC) was constituted thereafter and to this effect a list of Creditors and Committee of Creditors had also been filed with the Registry of this Tribunal. 3. It is averred that the meeting of the Committee of Creditors being the first meeting was proposed to be held on 26.03.2021, however due to Covid-19 pandemic prevalent in the office of the Respondent Bank and it being the Sole Member of the CoC, the meeting was called off to be convened at a later date. However, thereafter, in view of the Order passed by this Tribunal on 26.03.2021 on an direction given to the IRP not to precipitate the CIR Proceedings and the same stood duly complied with. In the circumstances, till now no CoC meeting had been called. 4. In the meanwhile ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f notice of this Application upon Respondent Bank being the Sole Member of the Committee of Creditors (CoC). 6. Pursuant to the notice of the Application, the Respondent Bank/Sole Member of CoC is being represented by its Law Officer, namely Mr. Saanjeed Suman, from the Regional Office of IOB. In relation to the Application, the Respondent Bank being the Sole Member of the CoC expresses his no objection for the withdrawal of the main Application and the CIRP initiated pursuant to the Order of Admission passed by this Tribunal on 25.02.2021 and the said statement stands recorded. 7. On the part of the Applicant/Operational Creditor, it is represented that as directed by this Tribunal a sum of ₹ 2,00,000/- has been paid to the Int ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on the part of the personnel of the Corporate Debtor and also in defending the Application as filed by the erstwhile Director of the Corporate Debtor, we deem it appropriate that the balance sum of ₹ 73,938.45 is required to be defrayed by the Corporate Debtor. 9. In view of the Application being allowed and as a consequence, the CIRP initiated against the Corporate Debtor stands withdrawn. In the circumstances, IA/293/2021 filed by the IRP in relation to the personnel of the Corporate Debtor as well as IA/242/2021 filed by the erstwhile Director of the Corporate Debtor stands closed. Further, a balance sum of ₹ 73,938.45 shall be paid by the Corporate Debtor to IRP appointed by this Tribunal in order to defray the expenditur ..... X X X X Extracts X X X X X X X X Extracts X X X X
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