Rajeswara Rao Vittanala, Member (J)

1. C.P.(IB)No.153/BB/2017 is filed by M/s. Dimension Data India Private Limited(Petitioner/Operational Creditor) U/s 9 of the IBC, 2016 R/w 6 of the I&B (Application to Adjudicating Authority) Rules, 2016, by inter alia seeking to initiate Corporate Insolvency Resolution Process (CIRP) in respect of M/s.NxtGen Datacenter and Cloud Technologies Private Limited (Respondent/Corporate Debtor) that it has committed a default for total outstanding amount of Rs. 3,89,45,190/-(Rs. 3,24,23,489/- + Rs. 65,21,701/- as interest calculated on Rs. 3,24,23,489/- due under the Cloud Service Agreement(r) 18% p.a. till 31.10.2017. The petition was admitted on 24.07.2019 by this Adjudicating Authority by initiating CIRP, appointed IRP etc.

2. Aggrieved by order of this Adjudicating Authority dated 24.07.2019, the Corporate Debtor has filed Company Appeal (AT) (Insolvency)No.778 of 2019 before the Honble NCLAT and the Honble NCLAT allowed the Company Appeal by order dated 21.08.2019, which reads as under:

"In the facts and circumstance, in exercise of inherent powers conferred upon this Appellate Tribunal under Rule 11 of the NCLAT Rules, 2016, we accept the Settlement and set aside the impugned order dated 24th July, 2019 passed by the Adjudicating Authority (National Company Law Tribunal), Bengaluru Bench and dispose of the Company Petition (IB)No. 153/BB/2017 (preferred by 1st Respondent-M/s.Dimension Data India Put. Ltd.). The terms of Agreement of Settlement reached between the parties be treated as direction of this Appellate Tribunal and the Appellant, Managing Director, Directors, Officers and the Corporate Debtor are directed to implement the same in its letter and spirit, falling which, it will be open to the Respondent to file Petition for initiation of contempt proceeding and for the revival of the Appeal and the Company Petition.

In the result, order(s) passed by Ld. Adjudicating Authority appointing Interim Resolution Professional, declaring moratorium and all other order(s) passed by Adjudicating Authority pursuant to impugned order and action taken by the Resolution Professional are set aside. The application preferred by the Respondent under Section 9 of the I&B Code is disposed of as withdrawn. The Adjudicating Authority will now close the proceeding. The Respondents Company is released from all the rigour of law and is allowed to function independently through its Board of Directors from immediate effect."

3. Heard Ms. Ayshwarya Chandar, learned Counsel for the Respondent. None appeared for the Petitioner. We have carefully perused the pleadings of the party and also the extant provisions of the Code and the records of the case.

4. In view of above order of Honble NCLAT, C.P.(IB)No.153/BB/2017 is closed. No order as to costs.