# In the matter of City Mart Maintenance Service Pvt. Ltd. IB-3213(ND)-2019

> NCLT judgment dated 2021-11-22. Citation: TCN-2021-NCLT-00447. The case involves an application by the Resolution Professional seeking the discharge of the…

- **Court:** NCLT
- **Order date:** 22 Nov 2021
- **Citation:** TCN-2021-NCLT-00447
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/city-mart-maintenance-service-pvt-ltd-ib-3213nd-2019-8296021a

## Summary

### Background

The case involves an application by the Resolution Professional seeking the discharge of the Corporate Debtor and withdrawal of the CIRP proceedings. The Operational Creditor intended to withdraw the proceedings due to the unavailability of assets and liquidation not being a viable option. The CoC was formed, with the original petitioner as the sole member.

## Facts

The Resolution Professional filed an application seeking the discharge of the Corporate Debtor and withdrawal of the CIRP proceedings. The application was made under Section 12A of the IB Code read with Regulation 30A of IBBI Regulations. The Operational Creditor intended to withdraw the proceedings because no assets were available and liquidation was not a viable option. The Resolution Professional confirmed that all fees and expenses had been paid. The CoC was formed, and the original petitioner was the sole member. The CP (IB No. 3213 of ND/2019)'s CIRP was initiated against the Corporate Debtor.

## Issues and analysis

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

**Ratio:** Section 12A of the IB Code allows for the withdrawal of CIRP under certain conditions,

…

**Reasoning:** The tribunal considered the submissions that no assets were available, liquidation was

…

**Interpretation:** Section 12A provides a mechanism for withdrawing CIRP proceedings when

…

**Application:** Given the unavailability of assets and the Operational Creditor's intent to

…

## Parties

- **Judges:** P.S.N. P…; RAHUL BHA…
- **Appellants:** M/s. Jones Lang…
- **Respondents:** M/s. City Mart…
- **Advocates:** Sanyam…; Mohtashim K…; +1 more

## Timeline

- **2021-11-22 — Order Del…**: Order delivered on 22.11.2021…

## 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)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-chandigarh/city-mart-maintenance-service-pvt-ltd-ib-3213nd-2019-8296021a