Allowed
In the matter of Gill Aqua Hydro Power Generation Company Ltd. [Ia No.595-2023 in Cp(Ib) No.176-Chd-Pb-2019]
NCLTIA No.595-2023 in CP(IB) No.176-Chd-Pb-2019
Case brief
AI extract
What is this about?
The Tribunal allowed the withdrawal of the CIRP application and dismissed the main Insolvency Petition following a settlement agreement. Consequently, the moratorium under Section 14 ended, the IRP was discharged, and the board was restored.
What did the court decide?
Withdrawal of the CIRP and dismissal of the main petition; termination of moratorium; discharge of IRP and restoration of the Board of Directors.