Karim

S.No.17

IN THE NATIONAL COMPANY LAW TRIBUNAL

HYDERABAD BENCH – 1

ATTENDANCE CUM ORDER SHEET OF THE HEARING HELD ON

13-06-2022 AT 10:30 A.M. THROUGH VIDEO CONFERENCE

IA(IBC) 551/2022 in CP(IB)103/9/HDB/2021

U/s 9 of IBC, 2016

IN THE MATTER OF:

Thermo Systems Pvt Ltd

…Operational Creditor

Vs

Madhucon Projects Ltd ...Corporate Debtor

C O R A M:-

DR. VENKATA RAMAKRISHNA BADARINATH NANDULA, HON’BLE MEMBER (JUDICIAL)

SH. VEERA BRAHMA RAO AREKAPUDI, HON’BLE MEMBER (TECHNICAL)

O R D E R

IA(IBC) 551/2022 :

The petition is filed by IRP seeking leave of this Tribunal for withdrawal

of CIRP initiated against the Corporate Debtor vide order dated 30.05.2022, inter

alia, on the ground that the matter has been settled post the order of CIRP agianst

the Corporate Debtor. The learned counsel for the Operational Creditor appared.

Shri Venugopal Kaspa, IRP appeared. Shri Y. Suryanarayana, learned counsel for

the Resolution Professional appeared.

Heard. Perused the record. In view of the settlement reported by the parites

and the memo signed by the Operational Creditor as well as Resolution

Professional, we are satisfied that the present case is fit to grant leave for

withdrwal of the CIRP order agians the Corporate Debtor. Admission order dated

30.05.2022 passed against the Corporate Debtor is hereby set aside. CP (IB)

No.103/9/HDB/2021 is dismissed as withdrawn. The Corporate Debtor is at

liberty to function through its directors as per the law. IA(IBC) 551/2022 is

accoridngly disposed of.

Sd/-

Sd/-

MEMBER (T)

MEMBER (J)