# In the matter of Sunil Kumar Agarwal S/O Kishan Lal Agarwal Vs. Insolvency And Bankruptcy Board Of India (IBBI) R/Special Civil Application No. 13767 of 2022

> HC judgment dated 2022-07-20. Citation: TCN-2022-HC-00033. The case involves a petition filed by Sunil Kumar Agarwal against the Insolvency and Bankruptcy…

- **Court:** HC
- **Order date:** 20 Jul 2022
- **Citation:** TCN-2022-HC-00033
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/high-courts-new-delhi/sunil-kumar-agarwal-so-kishan-lal-agarwal-vs-insolvency-and-bankruptcy-board-of-7ffb701a

## Summary

### Background

The case involves a petition filed by Sunil Kumar Agarwal against the Insolvency and Bankruptcy Board of India (IBBI). The petitioner sought the withdrawal of the Corporate Insolvency Resolution Process (CIRP), which was initially requested by the Operational Creditor (OC). The Adjudicating Authority approved the withdrawal of CIRP against the Corporate Debtor via an order dated 31.08.2020, following an application filed by the petitioner under Section 12A of the Code read with regulation 30(1)(a) of the CIRP regulations. However, the Adjudicating Authority made some observations regarding the petitioner's working in its order dated 31.08.2020, passed in IA No. 456/2020.

## Facts

Sunil Kumar Agarwal, the petitioner, sought to withdraw the Corporate Insolvency Resolution Process (CIRP). The Adjudicating Authority initially approved the withdrawal of CIRP against the Corporate Debtor on 31.08.2020, based on an application under Section 12A of the Code. However, the Adjudicating Authority made observations about the petitioner's work. The petitioner appealed to NCLAT, which clarified there was no stigma on the petitioner's conduct. The petitioner argued that the disciplinary committee was improperly constituted. The petitioner was ready to deposit Rs. 5,30,000/-. The court stayed a condition requiring the petitioner to undergo a pre-registration educational course and issued a notice to the respondent.

## Issues and analysis

### Issue 1: Whether the condition requiring the petitioner to undergo a pre-registration educational course …

**Ratio:** The court has the power to grant interim relief, including a stay on certain conditions,

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**Reasoning:** The court considered the petitioner's willingness to deposit Rs. 5,30,000/- and the

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**Interpretation:** This demonstrates the court's willingness to maintain the status quo and

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**Application:** The court applied its discretion to stay the condition, balancing the interests

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## Parties

- **Judges:** A.S. SU…
- **Appellants:** Sunil Kumar…
- **Respondents:** Insolvency and…
- **Other parties:** Kohi…
- **Advocates:** P.C.KA…; Vishal J…; +1 more

## Timeline

- **2022-07-20 — Order Da…**: High Court order directing…
- **2020-08-31 — Adjudicating Authority…**: Adjudicating Authority approved the withdrawal of CIRP and made observations regarding…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 12A — (1) Subject to sub](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-12a)

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