- (1.) Ld. IRP as well as Ld. Counsel for the operational creditor and the corporate debtor are present. Ld. Counsel for the corporate debtor has informed that in this case parties have entered into a settlement.
(2.) This petition is u/s. 9 of the Insolvency and Bankruptcy Code, 2016 and after the admission of the petition IRP has been appointed.
(3.) Hence, this petition cannot be dismissed on account of settlement between the parties. IRP is directed to proceed in the matter in accordance with the Rules and Regulations and submit the Progress Report by 10/01/2018. List it on 10/01/2018.;