# In the matter of Uma Shankar Geonka vs. Kailash Chandra Jain Company Appeal(AT) (Insolvency) No. 979 of 2022

> NCLAT judgment dated 2022-09-08. Citation: TCN-2022-NCLAT-00229. The appeal was filed against the order dated 03.08.2022, by which the Adjudicating Authority…

- **Court:** NCLAT
- **Order date:** 8 Sept 2022
- **Citation:** TCN-2022-NCLAT-00229
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/uma-shankar-geonka-vs-kailash-chandra-jain-company-appeal-0eef7c74

## Summary

### Background

The appeal was filed against the order dated 03.08.2022, by which the Adjudicating Authority adjourned the Application I.A. No. 3657 of 2022 filed under Section 12A of IBC to 26.08.2022. The Tribunal heard the appeal on 17.08.2022 and passed an order. The appellant submitted that the Section 12A application was filed before the constitution of the Committee of Creditors (CoC).

## Facts

Uma Shankar Geonka, the suspended director of Calzini Fashions Ltd., filed an appeal against Kailash Chandra Jain, the Interim Resolution Professional (IRP) of Jayna Traders Pvt. Ltd. & Anr. The appeal contested an order dated 03.08.2022, where the Adjudicating Authority adjourned Application I.A. No. 3657 of 2022, filed under Section 12A of the Insolvency and Bankruptcy Code (IBC), to 26.08.2022. The appellant argued that the Section 12A application was filed before the constitution of the Committee of Creditors (CoC). All outstanding dues of the Operational Creditor, including CIRP dues, had been paid. The IRP had no objection to allowing I.A. No. 3657/2022. The key fact is that the Section 12A application was filed before the CoC was formed, which influenced the

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## Issues and analysis

### Issue 1: Whether the Adjudicating Authority erred in adjourning the Section 12A application filed before the …

**Ratio:** The legal principle is that an application under Section 12A of the IBC, filed before the

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**Reasoning:** The court reasoned that since the Section 12A application was filed before the CoC was

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**Interpretation:** Section 12A of the IBC allows for the withdrawal of an application for

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**Application:** In this specific case, the appellant filed the Section 12A application before

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## Parties

- **Judges:** Ashok Bh…; Barun M…
- **Appellants:** Uma Shankar…
- **Respondents:** Jayna Traders…; Kailash Chandra…

## Timeline

- **2022-07-19 — CIRP Init…**: Order initiating Corporate Insolvency…
- **2022-08-03 — Adjudicating Authority…**: The Adjudicating Authority adjourned Application I.A. No. 3657 of 2022 filed under…

## 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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