# 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-01840. The case involves an application filed under regulation 30A of the IBBI (Insolvency Resolution…

- **Court:** NCLT
- **Order date:** 24 Feb 2020
- **Citation:** TCN-2020-NCLT-01840
- **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-2018-9588a8c5

## Summary

### Background

The case involves 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 2020-02-10, and an IRP was appointed.

## Facts

An application was filed under regulation 30A of the IBBI (Insolvency Resolution Process for Corporate Person), 2016, seeking to allow the Operational Creditor to withdraw the application. The initial application under Section 9 of the IB Code was admitted on 2020-02-10, leading to the appointment of an Interim Resolution Professional (IRP). The IRP, Manish Kumar Bhagat, was present in person and ratified the content made by the Operational Creditor, confirming he received all dues and expenses. No Committee of Creditors (COC) has been constituted. The moratorium was ceased. The Corporate Debtor is freed from the rigour of the CIRP.

## Issues and analysis

### Issue 1: Whether the Operational Creditor should be allowed to withdraw the application under regulation 30A …

**Ratio:** Regulation 30A of the IBBI (Insolvency Resolution Process for Corporate Person), 2016,

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**Reasoning:** The court considered the application filed under regulation 30A and the circumstances

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**Interpretation:** Regulation 30A provides a mechanism for withdrawal of applications, balancing

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**Application:** Given the IRP's ratification and the circumstances, the court applied

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## Parties

- **Judges:** Manorama…; Chockalingam…
- **Respondents:** Nuvoco Vistas…; Archon Powerinfra…
- **Advocates:** Ariet L…; Prashant…

## Timeline

- **2020-02-10 — Application A…**: Application filed under Section 9…
- **2020-02-24 — Order Da…**: The instant application is…

## 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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