# In the matter of Aapka Urgicare Pvt. Ltd. IA-4395-2021 in IB-3478-(ND)-2019

> NCLT judgment dated 2021-10-12. Citation: TCN-2021-NCLT-00754. The case involves an application for withdrawal under Section 12A of the IB Code, 2016, read…

- **Court:** NCLT
- **Order date:** 12 Oct 2021
- **Citation:** TCN-2021-NCLT-00754
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/aapka-urgicare-pvt-ltd-ia-4395-2021-in-ib-3478-nd-2019-00f39a85

## Summary

### Background

The case involves an application for withdrawal under Section 12A of the IB Code, 2016, read with Regulation 30A of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. The Committee of Creditors has not been constituted, and no claims have been received despite public announcements. The settlement was arrived at between the parties in Company petition No.(IB)-3478/ND/2019 admitted vide Order dated 23.7.2021.

## Facts

Dr. Lal Pathlabs Limited initiated a Corporate Insolvency Resolution Process (CIRP) against Aapka Urgicare (P) Ltd under Section 7 of the IBC, 2016. However, before the constitution of the Committee of Creditors (CoC) and the receipt of any claims, a settlement was reached between Dr. Lal Pathlabs Limited and Aapka Urgicare (P) Ltd. Consequently, an application was filed under Section 12A of the IB Code, 2016, read with Regulation 30A of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, to withdraw the CIRP. The Interim Resolution Professional (IRP) confirmed that his fees had been settled. The petition was initially admitted on 2021-07-23.

## Issues and analysis

### Issue 1: Whether the application for withdrawal of the CIRP under Section 12A of the IB Code, 2016, read …

**Ratio:** Section 12A of the IB Code and Regulation 30A of the IBBI Regulations allow for the

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**Reasoning:** The Tribunal noted that the Committee of Creditors had not been constituted, and no

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**Interpretation:** Section 12A provides a mechanism for withdrawing a CIRP when a settlement is

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**Application:** The Tribunal applied Section 12A and Regulation 30A to the facts of the case,

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## Parties

- **Judges:** P.S.N. P…; Narender Kumar…
- **Appellants:** Lal Pathlabs…
- **Respondents:** Aapka Urgicare…
- **Advocates:** Shweta B…; Sukrit R.…; +2 more

## Timeline

- **2019-01-01 — Company Petiti…**: Company petition…
- **2021-07-23 — Admission of…**: Company petition No.(IB)-3478/ND/2019 was…

## 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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