In the matter of Gurdeep Singh Anand & Anr. Vs. ASP Sealing Products Ltd. Through IRP Ashish Singh CA(AT)(Ins) No. 288 of 2020

Heard the learned counsel for both sides that the settlement agreement between the parties was executed on 17.02.2020.

The said factum of settlement having been reached is recorded. At this juncture, the learned counsel for the Appellant seeks permission from this Tribunal to withdraw the instant Appeal.

Acceding to the said request, the instant Company Appeal (AT) (Ins) No. 288 of 2020 is dismissed as withdrawn. That apart this Tribunal directs the parties to approach the Adjudicating Authority (National Company Law Tribunal) Bench-3, New Delhi, by filing a necessary Application under Section 12 A of the Insolvency and Bankruptcy Code, coupled with Regulation 30 A of Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations 2016 and to seek redressal of its grievances, of course, in the manner known to Law and in accordance with Law if they so desire/Advised.

The said Application can be filed within a week from today. Till this period of one week, ‘Committee of Creditors’ shall not be constituted if not already constituted.

[Justice Venugopal M.]

Member (Judicial)

[V.P. Singh]

Member (Technical)