# In the matter of Airlink Teleinfra LLP IA-223(AHM)-2021 in CP (IB) 574 of 2019

> NCLT judgment dated 2021-03-31. Citation: TCN-2021-NCLT-02522. The instant application was filed under Section 12A of the IB Code to withdraw the CP(IB)…

- **Court:** NCLT
- **Order date:** 31 Mar 2021
- **Citation:** TCN-2021-NCLT-02522
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/airlink-teleinfra-llp-ia-223ahm-2021-in-cp-ib-574-of-2019-0ff74b2a

## Summary

### Background

The instant application was filed under Section 12A of the IB Code to withdraw the CP(IB) 574/2019. The CP(IB) 574/2019 was admitted on 01.03.2021, appointing IRP, Mr. Nandish Sunilbhai Vin. After the admission of CP(IB) 574 of 2019, both sides entered into a settlement. The application was filed through IRP and duly executed the Form-FA which is annexed at Annexure-D. The COC is not yet constituted.

## Facts

An application was filed under Section 12A of the IB Code to withdraw CP(IB) 574/2019. CP(IB) 574/2019 was admitted on 2021-03-01, and Mr. Nandish Sunilbhai Vin was appointed as the IRP. The parties reached a settlement after the admission. The application for withdrawal was filed through the IRP, with the duly executed Form-FA annexed as Annexure-D. The COC was not yet constituted. The professional fee of the IRP along with the expenses has been cleared.

## Issues and analysis

### Issue 1: Whether the application for withdrawal of CP(IB) 574/2019 under Section 12A of the IB Code should …

**Ratio:** The Supreme Court in Swiss Ribbons Pvt. Ltd. & Anr. Vs. Union of India & Ors.

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**Reasoning:** The court reasoned that since the COC was not yet constituted, and the parties had

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**Interpretation:** Section 12A of the IB Code allows for the withdrawal of an application admitted

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**Application:** In this case, the COC was not yet constituted, and the parties had reached a

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## Parties

- **Judges:** Manorama…; Chockalingam…
- **Respondents:** Airlink Teleinfra…

## Timeline

- **2021-03-01 — Admission of CP(IB)…**: CP(IB) 574/2019 was admitted, and Mr. Nandish…
- **2021-03-31 — Order Da…**: The court allowed the withdrawal of the…

## 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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