# In the matter of Sunshine Caterers Pvt. Ltd. Vs. Redreef Finance & Investment Pvt. Ltd. CA(AT)(Insolvency) No.725-2018

> NCLAT judgment dated 2019-02-28. Citation: TCN-2019-NCLAT-00753. The case involves an appeal where the appellant sought to withdraw the application under…

- **Court:** NCLAT
- **Order date:** 28 Feb 2019
- **Citation:** TCN-2019-NCLAT-00753
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/sunshine-caterers-pvt-ltd-vs-redreef-finance-investment-pvt-ltd-ca-a392f004

## Summary

### Background

The case involves an appeal where the appellant sought to withdraw the application under Section 12A of the Insolvency and Bankruptcy Code (IBC). The respondent, a financial creditor, intended to file an application for withdrawal of the application under Section 7 of the IBC. The matter was to be considered by the Committee of Creditors (CoC) and subsequently by the Adjudicating Authority.

## Facts

Sunshine Caterers Pvt. Ltd. filed an appeal. Redreef Finance & Investment Pvt. Ltd. is the respondent financial creditor. The respondent intended to file an application for withdrawal of the application under Section 7 of the IBC. The appellant was asked to withdraw the appeal to enable the Committee of Creditors to consider the application under Section 12A. The court allowed the appellant to withdraw the appeal with the liberty to file an interlocutory application to reopen the appeal if the application under Section 12A is not approved by 90% of the Committee of Creditors and the withdrawal of application under Section 7 is not allowed by the Adjudicating Authority. The court stated that if the Committee of Creditors approved the application under Section 12A

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## Issues and analysis

### Issue 1: Whether the appellant should be allowed to withdraw the appeal, considering the application under …

**Ratio:** The ratio is based on the provisions of Section 12A of the IBC, which allows for the

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**Reasoning:** The court reasoned that the appellant's request to withdraw the appeal was contingent

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**Interpretation:** Section 12A is interpreted as providing a mechanism for settling disputes and

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**Application:** The court applied the ratio by allowing the appellant to withdraw the appeal,

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## Parties

- **Judges:** S.J. Mukhop…; Bansi Lal…
- **Appellants:** Sunshine Caterers…
- **Respondents:** Redreef Finance &…

## Timeline

- **2019-02-28 — Order Da…**: Learned counsel submits that the Respondent Financial Creditor intends to file…

## 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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