The Adjudicating Authority initiated CIRP against the Corporate Debtor based on an application by the Operational Creditor under Section 9 of the I&B Code. The Suspended Director of the Corporate Debtor filed an appeal against this order. A Settlement Agreement was reached between the Appellant and the Operational Creditor, with the Appellant making full payment to the Operational Creditor. The Operational Creditor is the sole member of the Committee of Creditors (CoC). The IRP's counsel submitted that some expenses are still pending, amounting to Rs.4.36 Lakhs, which the Appellant has undertaken to pay. The Settlement Agreement contains a statement that the Appellant will make payment to the IRP. The Operational Creditor has given consent to the Settlement Agreement.

The Adjudicating Authority initiated CIRP against the Corporate Debtor based on an application by the Operational Creditor under Section 9 of the I&B Code. The Suspended Director of the Corporate Debtor filed an appeal against this order. A Settlement Agreement was reached between the Appellant and the Operational Creditor, with the Appellant making full payment to the Operational Creditor. The Operational Creditor is the sole member of the Committee of Creditors (CoC). The IRP's counsel submitted that some expenses are still pending, amounting to Rs.4.36 Lakhs, which the Appellant has undertaken to pay. The Settlement Agreement contains a statement that the Appellant will make payment to the IRP. The Operational Creditor has given consent to the Settlement Agreement.