# In the matter of Mr. Sandip Patel Vs. Central Bank of India and Ors. CA(AT)(Ins) No. 730 of 2019

> NCLAT judgment dated 2020-06-24. Citation: TCN-2020-NCLAT-00211. The appeal arises from an order dated July 11, 2019, passed by the Adjudicating Authority,…

- **Court:** NCLAT
- **Order date:** 24 Jun 2020
- **Citation:** TCN-2020-NCLAT-00211
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/mr-sandip-patel-vs-central-bank-of-india-and-ors-ca-a5d6108d

## Summary

### Background

The appeal arises from an order dated July 11, 2019, passed by the Adjudicating Authority, National Company Law Tribunal, Ahmedabad Bench, in I.A. No. 399 of 2019 in/with CP(IB) No. 388/NCLT/AHM/2018. The appellant initially filed a company petition under Section 7 of the Insolvency and Bankruptcy Code (IBC) in 2017. Subsequently, the first respondent filed a similar petition against the same corporate debtor, which was admitted on May 31, 2019, initiating the Corporate Insolvency Resolution Process (CIRP). The appellant's initial petition was then disposed of as infructuous. The first respondent later sought to withdraw their petition, which was allowed by the Adjudicating Authority. The appellant challenges this withdrawal, arguing that their claim was not considered

…

## Facts

Mr. Sandip Patel (Appellant) initially filed a Company Petition (IB) No. 157 of 2017 under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) against M/s Cure Life Care Pvt. Ltd (Corporate Debtor). Central Bank of India (Respondent No. 1) also filed Company Petition No. CP(IB) No. 388/NCLT/AHM/2018 under Section 7 of IBC against the same Corporate Debtor. The petition filed by Central Bank of India was admitted on 31.05.2019, and a moratorium was declared under Section 14(1) of IBC. Consequently, the Appellant's petition was disposed of as infructuous on 04.06.2019, with liberty granted to the Appellant to file a claim before the Resolution Professional. Central Bank of India, being the Financial Creditor and Sole Member of the Committee of Creditors (CoC),

…

## Issues and analysis

### Issue 1: Whether the Adjudicating Authority was justified in allowing the withdrawal of the Company Petition …

**Ratio:** The ratio is based on the principle that all creditors, especially financial creditors,

…

**Reasoning:** The court reasoned that the Committee of Creditors (CoC) took a decision to withdraw the

…

**Interpretation:** The interpretation is that Section 12A of the IBC, which allows for withdrawal

…

**Application:** The court applied the ratio to the facts by holding that the Adjudicating

…

## Parties

- **Judges:** A.I.S. C…; Anant Bijay…; +2 more
- **Appellants:** Sandip…
- **Respondents:** Cure Life Care…; Central Bank of…

## Timeline

- **2017-01-01 — Appellant files Company…**: Mr. Sandip Patel files Company Petition(IB)…
- **2018-01-01 — Respondent files…**: Central Bank of India files Company Petition No. CP(IB) No. 388/NCLT/AHM/2018 under…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 14(1) — Moratorium](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-14)

---

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/mr-sandip-patel-vs-central-bank-of-india-and-ors-ca-a5d6108d