Allowed
In the matter of Madhucon Projects Ltd. Ia(Ibc) 551-2022 in CP(IB)103-9-HDB-2021
Case brief
AI extract
What is this about?
The Tribunal granted leave for withdrawal of CIRP initiated against the Corporate Debtor due to a post-INITIATION settlement between the Operational Creditor and the Resolution Professional, setting aside the admission order.
What did the court decide?
Leave for withdrawal of CIRP granted; Admission order set aside; CP dismissed as withdrawn; Corporate Debtor allowed to function through directors.