In the matter of Anil Agarwal, Director Vs. HJM Fuels Pvt. Ltd. & Anr. CA(AT)(Ins)No. 534 of 2020

There is no representation on behalf of the Appellant.

However, Mr. Gulshan Kr. Sachdev, Advocate representing Respondent No.1 – ‘HJM Fuels Pvt. Ltd.’ (Operational Creditor) submits that the dispute has been settled inter-se the ‘Operational Creditor’ and the ‘Corporate Debtor’ and the ‘Operational Creditor’ has withdrawn the application under Section 9 of the ‘Insolvency and Bankruptcy Code, 2016’ (‘I&B Code’ for short) pending resolution process before the Adjudicating Authority.

At this stage, Ms. Anushree Kapadia, Advocate appeared on behalf of the Appellant and corroborated the statement of Mr. Gulshan Kr. Sachdev insofar as the settlement of dispute between the parties and withdrawal of the application under Section 9 of the ‘I&B Code’ is concerned. She further stated that in terms of order dated 17th June, 2020 passed by the Adjudicating Authority, the Application under Section 9 stands withdrawn and the matter has been closed. It is further stated that the resolution costs and the expenses incurred by the ‘Interim Resolution Professional’ have been settled.

In view of this statement, she does not want to press the appeal which has turned infructuous.

The appeal is accordingly disposed of.

[ Justice Bansi Lal Bhat ]

Acting Chairperson)

[ V.P. Singh ]

Member (Technical)