# In the matter of Archon PowerInfra India Pvt. Ltd. IA 156-2020 in C.P. (I.B) No. 424-NCLT-AHM-2018

> NCLT judgment dated 2020-02-24. Citation: TCN-2020-NCLT-01838. The case pertains to an application filed under regulation 30A of the IBBI (Insolvency…

- **Court:** NCLT
- **Order date:** 24 Feb 2020
- **Citation:** TCN-2020-NCLT-01838
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/archon-powerinfra-india-pvt-ltd-ia-156-2020-in-cp-ib-no-424-nclt-ahm-2018-0c023945

## Summary

### Background

The case pertains to an application filed under regulation 30A of the IBBI (Insolvency Resolution Process for Corporate Person), 2016, seeking permission for the Operational Creditor to withdraw the instant application. The application under Section 9 of the IB Code was admitted on 10.02.2020, and an IRP was appointed.

## Facts

An application was filed under regulation 30A of the IBBI, seeking to withdraw an application. The application under Section 9 of the IB Code was admitted on 10.02.2020, and an IRP, Mr. Manish Kumar Bhagat, was appointed. The IRP ratified the content made by the Operational Creditor and confirmed receiving all dues and expenses. No COC has been constituted. The application is related to Nuvoco Vistas Corporation Ltd, with Archon Powerinfra India Pvt Ltd as the counterparty. The relevance of these facts is that they establish the procedural history and the basis for the court's decision to allow the withdrawal application.

## Issues and analysis

### Issue 1: Whether the application filed under regulation 30A of the IBBI should be allowed, permitting the …

**Ratio:** Regulation 30A of the IBBI allows for the withdrawal of an application under certain

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**Reasoning:** The court reasoned that since the IRP has ratified the content made by the Operational

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**Interpretation:** Regulation 30A is interpreted to provide a mechanism for withdrawing

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**Application:** The ratio and reasoning are applied to the specific facts of the case, where

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## Parties

- **Judges:** Manorama…; Chockalingam…
- **Respondents:** Nuvoco Vistas…; Archon Powerinfra…

## Timeline

- **2020-02-10 — Admission of Ap…**: The application filed under Section…
- **2020-02-10 — Appointment…**: The IRP was appointed after the…

## 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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