9911796707
TMI Blog2021 (5) TMI 246X X X X Extracts X X X X X X X X Extracts X X X X ..... to as "IBC") and Regulation 30A of Insolvency and Bankruptcy Board of India [Insolvency Resolution Process for Corporate Persons] Regulations, 2016, (hereinafter to be referred to as "Regulations") r/w. Rule 11 of NCLT, Rules 2016. 2. The Application seeking for withdrawal has been moved by the Applicant through the Agency of the Interim Resolution Professional (IRP) appointed by this Tribunal at the time of initiating the CIRP against the Corporate Debtor vide its Order dated 25.02.2021. In the averments contained in the Application, it is evident that the IRP appointed by this Tribunal vide its Order dated 25.02.2021 came to be privy of the same on 04.03.2021. Thereafter, it is averred that the IRP has caused a public announcement in For ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ht to the IRP to file for the withdrawal of the CIRP against the Corporate Debtor in view of the settlement arrived at between the parties. 5. Subsequent to all of the above on 13.04.2021, Form-'FA' had been received duly signed by the Operational Creditor wherein the Applicant had sought for the withdrawal of the Application namely, IBA/1281/2019 filed by it before this Tribunal under Section 9 of IBC, 2016. The said Form-'FA' is annexed at Page No. 8 of the typed set along with an Affidavit verifying the Form-'FA' as enclosed at Page Nos. 9 and 10 of the typed set filed along with the Application. The Affidavit has been verified by a partner of the Operational Creditor/Applicant, namely, Mr. A. Keerti Prasad, whos ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ill the date of this Application. In support of the same, a statement is pointed and which statement discloses the break-up of the cost which had been given at Page No. 37 of the typed set filed along with the Application. 8. Perusal of the statement of the expenditure as made out at Page No. 37 discloses that apart from the fees as claimed by the IRP a major portion of the expenditure seems to have been incurred in respect of meeting of the expenditure in relation to Advocate fees for filing 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 Rs. 2,00,000/- as represented by the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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