# In the matter of Asif Abdullah Dalwai vs. Arun Bagaria, Interim Resolution Professional of
Windals Auto Pvt. Ltd. & Anr. Comp. App. (AT) (Ins.) No. 958 of 2021

> NCLAT judgment dated 2022-01-11. Citation: TCN-2022-NCLAT-00670. The appeal was filed against the order dated September 30, 2021, passed by the Adjudicating…

- **Court:** NCLAT
- **Order date:** 11 Jan 2022
- **Citation:** TCN-2022-NCLAT-00670
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/asif-abdullah-dalwai-vs-arun-bagaria-interim-resolution-professional-of-windals-18131de5

## Summary

### Background

The appeal was filed against the order dated September 30, 2021, passed by the Adjudicating Authority (National Company Law Tribunal, Mumbai Bench, Court-IV) in IA-1952/2021 in CP(IB)-3221(MB)/2019. The Adjudicating Authority dismissed the application and directed the IRP to get withdrawal of CIRP approved from the Committee of Creditors (CoC). The appellant is aggrieved by this order. The Corporate Debtor was admitted into Insolvency, and a public announcement was made on August 7, 2021. An application (I.A. No. 1952/2021) was filed on August 24, 2021, for withdrawal of the CIRP under Section 12A of the Insolvency and Bankruptcy Code, 2016, by the IRP before the Adjudicating Authority along with Form-FA. The withdrawal application was listed on September 6, 2021, but

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## Facts

The Corporate Debtor was admitted into Insolvency, and a public announcement was made on August 7, 2021. An application (I.A. No. 1952/2021) was filed on August 24, 2021, for withdrawal of the CIRP under Section 12A of the Insolvency and Bankruptcy Code, 2016, by the IRP before the Adjudicating Authority along with Form-FA. The withdrawal application was listed on September 6, 2021, but could not be heard due to a lack of time. The CoC was constituted on September 24, 2021, and its first meeting was held on September 29, 2021. The Adjudicating Authority dismissed the application and directed the IRP to get withdrawal of CIRP approved from the Committee of Creditors (CoC). The appellant is aggrieved by this order. The appellant's counsel argued that since the

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## Issues and analysis

### Issue 1: Whether the Adjudicating Authority was correct in directing the withdrawal application to be placed …

**Ratio:** When an application under Section 12A of the Code is filed prior to the constitution of

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**Reasoning:** The tribunal relied on its previous judgment in 'M/s Ashish Ispat Pvt. Ltd. Vs Primuss

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**Interpretation:** Section 12A of the Insolvency and Bankruptcy Code, 2016, requires the consent

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**Application:** In this case, the application for withdrawal was filed before the CoC was

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## Parties

- **Judges:** Ashok Bh…; Ashok Kumar…
- **Appellants:** Asif Abdullah…
- **Respondents:** Windals Auto Pvt.…; Arun Ba…
- **Advocates:** Prachi…; Lakshya Sa…

## Timeline

- **2021-08-07 — Insolvency Ad…**: Corporate Debtor was admitted into…
- **2021-08-24 — Application for…**: Application being I.A. No. 1952/2021 was filed for withdrawal of the CIRP under Section…

## 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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