In the matter of Arcons Infrastructures and Constructions Pvt. Ltd. [Ia 618-2024 in C.P. (IB)-1279(MB)2019]

Ld. Counsel for the Applicant took us through the order passed by the Hon’ble National Company Law Appellate Tribunal on 04^th July 2023, wherein it is stated that in case the Corporate Debtor pays the amount due to the Financial Creditor along with the interest till the insolvency commencement date, the CIRP shall stand withdrawn.

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The Learned Counsel informs that the said order has been complied with by the Financial Creditor / Original Petitioner. The said direction stands complied with as confirmed by the Financial Creditor. Accordingly, the IRP appointed in this case is directed to stop the CIRP process as the same stands withdrawn. As regards fees of the IRP is concerned the IRP shall be at liberty to file appropriate Application before

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us to contest the issue. CIRP stands withdrawn from today. No further step shall be

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taken by the IRP.

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IRP is directed to return all the records to the Corporate Debtor. Accordingly, IA 618/2024 is disposed of .

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List CP on 07.03.2024 alongwith IA, if any filed by Resolution Professional for

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settlement of his fees.

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-sdPRABHAT KUMAR MEMBER (TECHNICAL)

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-sdJUSTICE V.G. BISHT MEMBER (JUDICIAL)

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Rehan Shaikh

In the matter of Arcons Infrastructures and Constructions Pvt. Ltd. [Ia 618-2024 in C.P. (IB)-1279(MB)2019]

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In the matter of Arcons Infrastructures and Constructions Pvt. Ltd. [Ia 618-2024 in C.P. (IB)-1279(MB)2019]

Case brief

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What did the court decide?

What the court decided

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