M S MOTORS Vs. PREET TRACTORS PVT LTD

JUDGEMENT

(1.) The Resolution Professional has submitted his report dated 17.11.2017 and all the claims made before him by various creditors have been satisfied. Learned counsel for the operational creditor Mr. Yash Pal Gupta submits CA No.174/2017 that claim of the operational creditor was also satisfied. There were other two creditors viz., employees of the corporate debtor and the payment to them has also been sent. Since claim of all the creditors have been satisfied by the corporate debtor there is nothing further which the Resolution Professional is required to do. With regard to the fee of the Valuers, it is submitted by the Resolution Professional that the said Process was not yet started by the Valuers. The fee of the Resolution Professional has also been paid as per the report submitted by him. Accordingly, the Resolution Professional is discharged of his duties.

(2.) In view of the above, moratorium dated 25.09.2017 stands vacated and the corporate debtor is released from the insolvency resolution process and would keep on continuing as a going concern. The management of the corporate debtor stands restored. CA No.174/2017 stands disposed of. Copy of this order be communicated to the corporate debtor, the learned counsel for the operational creditor and the Resolution Professional.