# In the matter of Bhor Engineering Private Limited M.A. No. 3672-2019 In C.P. No.553-I&BP-2019

> NCLT judgment dated 2019-12-04. Citation: TCN-2019-NCLT-00332. The case involves an application filed by the Interim Resolution Professional (IRP), Mr. Rajesh…

- **Court:** NCLT
- **Order date:** 4 Dec 2019
- **Citation:** TCN-2019-NCLT-00332
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/bhor-engineering-private-limited-ma-no-3672-2019-in-cp-no553-ibp-2019-7146696d

## Summary

### Background

The case involves an application filed by the Interim Resolution Professional (IRP), Mr. Rajesh Shah, under Section 12A of the Insolvency and Bankruptcy Code, 2016, seeking withdrawal of a Corporate Insolvency Resolution Process (CIRP) initiated against Bhor Engineering Private Limited. The CIRP was initiated based on a petition under C.P. No. 553 of 2019. The IRP had issued an advertisement inviting claims from creditors, with the last date for receipt of claims being 30.10.2019. However, no claims were received, and consequently, a Committee of Creditors (COC) was not constituted.

## Facts

An application was filed by Interim Resolution Professional Mr. Rajesh Shah under Section 12A of the Insolvency and Bankruptcy Code, 2016, seeking withdrawal of C.P. No. 553 of 2019. The Corporate Insolvency Resolution Process (CIRP) was initiated against Bhor Engineering Private Limited. The IRP issued an advertisement inviting claims from creditors, setting the last date for receipt of claims as 30.10.2019. No claims were received, and therefore, a Committee of Creditors (COC) was not constituted. The Corporate Debtor's counsel submitted that the matter had been amicably settled between the parties, and consent terms were filed, seeking withdrawal of the petition. Previously CP was admitted on 11.10.2019 and Mr. Rajesh Shah, was appointed as Interim Resolution

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## Issues and analysis

### Issue 1: Whether the NCLT can allow the withdrawal of a Corporate Insolvency Resolution Process (CIRP) under …

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

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**Reasoning:** The court reasoned that since no COC was constituted, the Adjudicating Authority could

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**Interpretation:** This interpretation allows for flexibility in the CIRP process, enabling

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**Application:** In this case, since no COC was formed and the parties had amicably settled the

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## Parties

- **Judges:** Bhaskara Pantula…; Shyam Babu…
- **Appellants:** Bidue…
- **Respondents:** Bhor Engineering…
- **Advocates:** Rajesh…; Sanjay…

## Timeline

- **2019-10-11 — CP Admis…**: Corporate Petition was…
- **2019-10-30 — Last Date for…**: Last date for receipt of…

## 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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