# In the matter of AM Cool Engineers and Consultants Private Limited (IB) 2050(ND)-2019

> NCLT judgment dated 2020-06-10. Citation: TCN-2020-NCLT-01193. The case pertains to an application filed under Section 12A of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 10 Jun 2020
- **Citation:** TCN-2020-NCLT-01193
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/am-cool-engineers-and-consultants-private-limited-ib-2050nd-2019-975f13be

## Summary

### Background

The case pertains to an application filed under Section 12A of the Insolvency and Bankruptcy Code, 2016, seeking withdrawal of the company petition. The application was filed within two days of the admission of the company petition. Additionally, there was a submission regarding the remuneration/expenses of the IRP (Interim Resolution Professional), Mr. Brahm Dutt Verma, incurred during the CIRP (Corporate Insolvency Resolution Process).

## Facts

Blue Star Limited filed a petition against AM Cool Consultants & Engineers. An application (IA-2084/2020) was filed under Section 12A of the Insolvency and Bankruptcy Code, 2016, to withdraw the company petition within two days of its admission. The IRP, Mr. Brahm Dutt Verma, sought remuneration/expenses for the CIRP. The corporate debtor's counsel agreed to pay Rs. 70,000 to the IRP by 11.06.2020, which was acceptable to the IRP. This agreement on remuneration facilitated the withdrawal of the petition.

## Issues and analysis

### Issue 1: Whether the application for withdrawal of the company …

**Ratio:** Section 12A of the Insolvency and Bankruptcy Code, 2016, allows for the withdrawal of an

…

**Reasoning:** The court considered the application filed under Section 12A within two days of the

…

**Interpretation:** Section 12A provides a mechanism for parties to resolve disputes and withdraw

…

**Application:** The court applied Section 12A to the facts of the case, where the application

…

## Parties

- **Judges:** SH. B.S.V.…; Sh. Hemant Kumar…
- **Appellants:** Blue Star L…
- **Respondents:** AM Cool Consultant…

## Timeline

- **N/A — Filing of IA-2…**: IA-2084/2020 filed under Section 12A within two days after admission of the Company…
- **2020-06-11 — Payment De…**: Corporate Debtor directed to pay remuneration…

## 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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