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TMI Blog2021 (5) TMI 644X X X X Extracts X X X X X X X X Extracts X X X X ..... king for withdrawal of the CIRP is allowed. Let the reins of the Corporate Debtor with the IRP be handed over to the Board of Directors, whose powers stood suspended by virtue of initiation of the CIRP as against the Corporate Debtor. - MA/1126/2019 in CP/1475/(IB)/2018 - - - Dated:- 23-4-2021 - R. Varadharajan, Member (J) and Anil Kumar B., Member (T) For the Appellant : A.G. Sathyanarayana, Advocate For the Respondents : Peruman Saranyan, Advocate ORDER R. Varadharajan, Member (J) 1. This is an Application moved by the Insolvency Resolution Professional appointed by this Tribunal while initiating the Corporate Insolvency Resolution process in relation to the Corporate Debtor vide order dated 28.06.2019. 2. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oaded the same in the website of Insolvency Bankruptcy Board of India viz., www.ibbi.gov.in calling for the claims from the Creditors of the Corporate Debtor and further it is also averred that Regulations which have been framed under the provisions of Code have also been followed. 4. In relation to the publication calling for the claims, it is averred that the Applicant had received a claim only from the 1st Respondent in the capacity as an Operational Creditor claiming a sum of ₹ 52,50,960/- and that no Financial Creditor has preferred a claim before the IRP, in response to the publication. 5. In the circumstances in terms of Regulations, 2016 of the (Insolvency Resolution Process for Corporate Persons), Regulations, 2016, t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... been duly filed along with the counter. 8. In relation to the claim for fees made by the Applicant/IRP, it is represented that a sum of ₹ 75,000/- has already been paid and that in view of only a single CoC meeting was convened viz., the 1st CoC which was held on 07.08.2019, no other activity has taken place in relation to the Corporate Debtor and in the circumstances additional fees, if any, sought for by the Applicant is not justified. On his part, the Learned Counsel for the Applicant/IRP represents that the relief as sought for in Clause No. b of Paragraph No. 5 is not pressed. 9. Taking into consideration the Application as filed by the Applicant/IRP as well as the sole Operational Creditor who had constituted the CoC had ..... X X X X Extracts X X X X X X X X Extracts X X X X
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