# In the matter of ALF Construction Pvt. Ltd. IA-246(AHM)2021 in CP(IB) 186 of 2019

> NCLT judgment dated 2021-06-01. Citation: TCN-2021-NCLT-02050. The instant application was filed under Section 12A r.w 30A of the IB Code through IRP for…

- **Court:** NCLT
- **Order date:** 1 Jun 2021
- **Citation:** TCN-2021-NCLT-02050
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/alf-construction-pvt-ltd-ia-246ahm2021-in-cpib-186-of-2019-aa3145b3

## Summary

### Background

The instant application was filed under Section 12A r.w 30A of the IB Code through IRP for withdrawal of the CP(IB)186/2019. The IRP, Mr. Bhupendra Singh, submitted that claims were invited, but no claim has been received, even from the Operational Creditor. The application was filed for withdrawal of CP(IB) 186 of 2019.

## Facts

An application was filed under Section 12A r.w 30A of the IB Code for withdrawal of the Corporate Insolvency Resolution Process (CIRP) for ALF Constructions Pvt Ltd. The Interim Resolution Professional (IRP), Bhupendra Singh, stated that no claims were received despite inviting them. The Operational Creditor signed Form-FA, notarized on 2021-01-25, for withdrawal. The NCLT considered the Supreme Court's observation in Swiss Ribbons Pvt. Ltd. & Anr. Vs. Union of India & Ors., which allows for withdrawal before the constitution of the Committee of Creditors (COC).

## Issues and analysis

### Issue 1: Whether the application for withdrawal of the CIRP under Section 12A of the IB Code should be …

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

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**Reasoning:** The court reasoned that since no claims were received and the Operational Creditor

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**Interpretation:** Section 12A of the IB Code allows for withdrawal of CIRP with the approval of

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**Application:** In this case, the absence of claims and the Operational Creditor's consent,

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## Parties

- **Judges:** Manorama…; Virendra Kumar…
- **Respondents:** ALF Constructions…

## Timeline

- **2019-01-01 — CP(IB) 18…**: Original Corporate Insolvency…
- **2021-01-25 — Form-FA…**: Form-FA filed by the IRP, signed by Operational…

## 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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