# In the matter of Himanshu Singh and Ors. vs. HDFC Bank Limited & Ors.

> NCLAT judgment dated 2025-03-05. Citation: TCN-2025-NCLAT-00184. These two appeals, Company Appeal (AT) (Insolvency) No. 336 of 2025 and Company Appeal (AT)…

- **Court:** NCLAT
- **Order date:** 5 Mar 2025
- **Citation:** TCN-2025-NCLAT-00184
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/himanshu-singh-and-ors-vs-hdfc-bank-limited-ors-9669d79b

## Summary

### Background

These two appeals, Company Appeal (AT) (Insolvency) No. 336 of 2025 and Company Appeal (AT) (Insolvency) No. 337 of 2025, were filed challenging the order dated 13.02.2025 passed by the Adjudicating Authority (National Company Law Tribunal, Allahabad Bench, Prayagraj). The appeals arise from the same Corporate Insolvency Resolution Process (CIRP) of the corporate debtor, Kriti Prakashan Private Limited. The initial application under Section 7 of the Insolvency and Bankruptcy Code (IBC) was filed by Small Industrial Development Bank of India (SIDBI) on 20.03.2020. The NCLT admitted the Section 7 application on 13.06.2022, initiating CIRP. SIDBI and the corporate debtor reached a settlement, and SIDBI received Rs.1,58,70,199/-. Consequently, the Interim Resolution

…

## Facts

Small Industrial Development Bank of India (SIDBI) initiated Corporate Insolvency Resolution Process (CIRP) against Kriti Prakashan Private Limited by filing an application under Section 7 of the Insolvency and Bankruptcy Code (IBC) on 2020-03-20. The National Company Law Tribunal (NCLT), Allahabad Bench, admitted the application on 2022-06-13, initiating CIRP. Aditya Agarwal was initially appointed as the Interim Resolution Professional (IRP), followed by Anil Kumar Mittal on 2022-06-15. The IRP made a public announcement on 2022-06-19, inviting claims from creditors with a deadline of 2022-06-30. SIDBI and Kriti Prakashan Private Limited reached a settlement, with the latter paying Rs. 1,58,70,199 to SIDBI on 2022-06-22, leading to SIDBI issuing a No-Objection

…

## Issues and analysis

### Issue 1: Whether the Adjudicating Authority was correct in rejecting the application for withdrawal of CIRP …

**Ratio:** The ratio is derived from a synthesis of Supreme Court judgments, particularly ‘Swiss

…

**Reasoning:** The NCLAT reasoned that the Adjudicating Authority rightly considered the claim of HDFC

…

**Interpretation:** Section 12A of the IBC, read with Regulation 30A of the CIRP Regulations, is

…

**Application:** In this specific case, the NCLAT applied the ratio and reasoning to uphold the

…

## Parties

- **Judges:** Ashok Bh…; Barun M…; +1 more
- **Appellants:** Himanshu…
- **Respondents:** Kriti Prakashan…; HDFC Bank L…

## Timeline

- **2020-03-20 — Section 7 Application…**: Small Industrial Development Bank of India (SIDBI) filed an application under Section 7…
- **2022-06-13 — CIRP Init…**: NCLT Allahabad Bench admitted the Section 7 application and initiated CIRP against the…

## 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)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclat-new-delhi/himanshu-singh-and-ors-vs-hdfc-bank-limited-ors-9669d79b