9911796707
TMI Blog2022 (12) TMI 371X X X X Extracts X X X X X X X X Extracts X X X X ..... the order passed today, the Respondent No.1 need not deposit the amount of Rs. 2.5 Crores as directed on 01.12.2022 - Appeal disposed off. X X X X Extracts X X X X X X X X Extracts X X X X ..... the Project - Sentosa (Faridabad). As we have already noted above, the claim of the Applicant in respect of the Project - Santosa (Faridabad) is Rs.1,07,59,307/-. Since the present petition was filed on 17.05.2019, when the minimum threshold applicable was Rs 1 (one) Lakh only, we are inclined to initiate CIR Process against the Corporate Debtor." Learned counsel for the Appellant submits that Appellant is ready to deposit the amount of Rs.1,07,59,307/- by way of a Bank Draft. It is submitted that there is no other claim in consideration in the Section 9 application except the one noticed in Para 25 of the impugned order. Learned counsel for the Respondent submits that the claim of the Operational Creditor is more than Rs.1,07,59,307/- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sal who is present in the Court. 3. Learned Counsel for the Respondent No.1 submits that the Affidavit has been filed by the Respondent No.1 by his free will and voluntary. 4. Learned Counsel appearing for the Appellant submits that the Appellant has no objection in giving effect to the Settlement Agreement dated 15.11.2022. 5. Considering the aforesaid, we allow this I.A. No. 4657 of 2022. Settlement Agreement is taken on record. The amount deposited by the Appellant under the order dated 01.12.2022 be refunded to the Appellant. 6. In view of the order passed today, the Respondent No.1 need not deposit the amount of Rs. 2.5 Crores as directed on 01.12.2022. 7. In result, the order dated 14.11.2022 is set aside. The Appeal is disposed ..... X X X X Extracts X X X X X X X X Extracts X X X X
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