# In the matter of Anil Goel Vs. 21 Capital PCC CA (AT) (Insolvency) No. 36-2019

> NCLAT judgment dated 2019-01-10. Citation: TCN-2019-NCLAT-00877. The case involves an appeal against an order by the Adjudicating Authority (National Company…

- **Court:** NCLAT
- **Order date:** 10 Jan 2019
- **Citation:** TCN-2019-NCLAT-00877
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/anil-goel-vs-21-capital-pcc-ca-4d58785f

## Summary

### Background

The case involves an appeal against an order by the Adjudicating Authority (National Company Law Tribunal, Mumbai Bench) regarding the withdrawal of a resolution plan by the proposed successful resolution applicant and the subsequent refund of the earnest money deposit (EMD) of Rs. 3.5 crores. The appellant challenges the order, while the respondent is the 'Resolution Applicant' who withdrew the plan.

## Facts

The case revolves around the withdrawal of a 'resolution plan' by the 'proposed successful resolution applicant' after submitting it. The applicant had deposited an earnest money deposit (EMD) of Rs. 3.5 crores. The applicant withdrew the resolution plan a day before the meeting of the 'Committee of Creditors'. The key fact is the withdrawal of the resolution plan and the question of whether the EMD should be refunded. The Adjudicating Authority passed an order, which is now under appeal. The appellant is contesting the order related to the withdrawal of the Earnest Money.

## Issues and analysis

### Issue 1: Whether the withdrawal of a 'resolution plan' by the 'proposed successful resolution applicant' …

**Ratio:** The legal principle involved is the determination of the conditions under which an

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**Reasoning:** The court's reasoning is based on the facts and circumstances of the case, considering

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**Interpretation:** The interpretation involves understanding the legal implications of withdrawing

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**Application:** The ratio and reasoning are applied to the specific facts of the case,

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## Parties

- **Judges:** S.J. Mukhop…; Bansi Lal…
- **Appellants:** Anil…
- **Respondents:** 21 Capita…

## Timeline

- **2018-11-26 — Impugned Ord…**: Date of the impugned order passed by the Adjudicating Authority (National Company Law…
- **2019-01-10 — Order Da…**: The question arises for consideration in this appeal is whether in the facts and…

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