# In the matter of PI Data Centers Private Limited

> NCLT judgment dated 2025-03-28. Citation: TCN-2025-NCLT-01030. An application was filed under Section 12A of the IBC, 2016, for the withdrawal of CIRP…

- **Court:** NCLT
- **Order date:** 28 Mar 2025
- **Citation:** TCN-2025-NCLT-01030
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-amaravati/pi-data-centers-private-limited-bbea89d8

## Summary

### Background

An application was filed under Section 12A of the IBC, 2016, for the withdrawal of CIRP proceedings against Pi Data Centers Private Limited, based on a settlement agreement dated 02.01.2025 between the parties.

## Facts

The application was filed under Section 12A of IBC, 2016, for withdrawal of CIRP proceedings.

The settlement agreement between the parties is dated 02.01.2025.

K Computers claimed the settlement agreement was obtained under force, coercion, and threat.

An earlier complaint was sent to the Prime Minister of India on 12.12.2024.

The IRP stated that all fees and costs have been received.

## Issues and analysis

### Issue 1: Whether the settlement agreement …

**Ratio:** The bench relied on the

…

**Reasoning:** The court considered the IRP's statement that all fees and costs were received and the

…

**Interpretation:** The court interpreted Section 12A of the IBC to allow for withdrawal of CIRP

…

**Application:** The court applied the settlement agreement to withdraw the CIRP proceedings

…

## Parties

- **Judges:** UMESH KUMAR…; KISHORE VEMULAPALL…
- **Appellants:** K Compu…
- **Respondents:** Pi Data Centers…
- **Other parties:** Kalyan Mup…
- **Advocates:** Y. Suryana…; S. R…; +6 more

## Timeline

- **2020-N/A — CP(IB)/71/9/A…**: Main Petition bearing…
- **2022-04-03 — CP Admit…**: CP Admitted on…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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