# In the matter of One City Infrastructure Pvt. Ltd. vs. Pratham Expofab Private Limited & Ors.

> NCLAT judgment dated 2024-02-27. Citation: TCN-2024-NCLAT-00612. This appeal was filed by a Successful Resolution Applicant (SRA) against an order dated…

- **Court:** NCLAT
- **Order date:** 27 Feb 2024
- **Citation:** TCN-2024-NCLAT-00612
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/one-city-infrastructure-pvt-ltd-vs-pratham-expofab-private-limited-ors-aeb631b7

## Summary

### Background

This appeal was filed by a Successful Resolution Applicant (SRA) against an order dated 23.01.2024 passed by the National Company Law Tribunal (NCLT), New Delhi Bench, in IA No. 188/2024, which was filed by Respondent No. 1. The Corporate Insolvency Resolution Process (CIRP) of the Corporate Debtor, M/s. Primrose Infratech Pvt. Ltd., commenced on 21.12.2018. The Resolution Plan submitted by the Appellant was approved by the Committee of Creditors (CoC) with 80.84% voting share on 13.02.2020. IA No. 1489 of 2020, filed by the Resolution Professional (RP) for approval of the Resolution Plan, is pending before the Adjudicating Authority. IA No. 188 of 2024, filed by Respondent No. 1, sought to place a settlement proposal under Section 12A of the IBC before the CoC. The

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## Facts

The Corporate Insolvency Resolution Process (CIRP) of M/s. Primrose Infratech Pvt. Ltd. commenced on 21.12.2018. The Resolution Plan submitted by One City Infrastructure Pvt. Ltd. (the Appellant) was approved by the Committee of Creditors (CoC) with 80.84% voting share on 13.02.2020. IA No. 1489 of 2020, filed by the Resolution Professional (RP) for approval of the Resolution Plan, is pending before the Adjudicating Authority. Respondent No. 1, an Ex-Director, filed IA No. 188 of 2024, seeking to place a settlement proposal under Section 12A of the IBC before the CoC. The Adjudicating Authority directed the Appellant to deposit Rs. 1 crore in the CIRP Account of the Corporate Debtor and directed the RP to call a meeting of the CoC to examine the proposal. The

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## Issues and analysis

### Issue 1: Whether the Adjudicating Authority had the jurisdiction to direct consideration of a fresh …

**Ratio:** The Adjudicating Authority's power to direct consideration of a Section 12A proposal is

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**Reasoning:** The NCLAT reasoned that the Adjudicating Authority should not have directed the

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**Interpretation:** Section 12A of the IBC allows for withdrawal of CIRP with the approval of 90%

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**Application:** In this case, the NCLAT found that directing consideration of a Section 12A

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## Parties

- **Judges:** Ashok Bh…; Barun M…; +1 more
- **Appellants:** One City Infrastru…
- **Respondents:** Primrose Infratech…; Pratham Expofab…

## Timeline

- **2018-12-21 — Commencement…**: The Corporate Insolvency Resolution Process (CIRP) of M/s. Primrose Infratech Pvt. Ltd.…
- **2019-01-03 — Public Annou…**: Public announcement was made…

## 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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