# In the matter of D4N Technologies (P) Ltd. CA-81-C-III-ND-19 In IB-567-ND-2018

> NCLT judgment dated 2019-02-01. Citation: TCN-2019-NCLT-05056. The application CA-81/C-III/ND/2019 was filed under Section 12(A) of the Code, seeking the…

- **Court:** NCLT
- **Order date:** 1 Feb 2019
- **Citation:** TCN-2019-NCLT-05056
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/d4n-technologies-p-ltd-ca-81-c-iii-nd-19-in-ib-567-nd-2018-747e324d

## Summary

### Background

The application CA-81/C-III/ND/2019 was filed under Section 12(A) of the Code, seeking the termination of the Corporate Insolvency Resolution Process (CIRP). The applicant submitted that a decision was taken to file the application pursuant to the claims of all 3 Operational Creditors comprising the COC. The resolution was passed in the meeting of the COC convened on 21.1.2019 and is placed at Page-14. The Form FA has also been filed duly supported by the affidavit of the R.P., and it is submitted that the cost has been reimbursed.

## Facts

Germinal Technologies (P) Ltd filed a petition against D4N Technologies (P) Ltd under Section 9 of the IBC, 2016. An application CA-81/C-III/ND/2019 was filed under Section 12(A) of the Code for the termination of the Corporate Insolvency Resolution Process (CIRP). The applicant submitted that pursuant to the claims of all 3 Operational Creditors comprising the COC, a decision has been taken to file the present application. The Resolution was passed in the meeting of the COC convened on 21.1.2019 and is placed at Page-14. The Form FA has also been filed duly supported by the affidavit of the R.P., and it is submitted that the cost has been reimbursed.

## Issues and analysis

### Issue 1: Whether the Corporate Insolvency Resolution Process (CIRP) should be terminated based on the …

**Ratio:** Section 12(A) of the Insolvency and Bankruptcy Code (IBC) allows for the termination of

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**Reasoning:** The court reasoned that the application for termination was supported by the decision of

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**Interpretation:** Section 12(A) provides a mechanism for the COC to decide to terminate the CIRP

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**Application:** The ratio and reasoning were applied to the facts of the case, where the COC

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## Parties

- **Judges:** Ina Mal…
- **Appellants:** Germinal Technolog…
- **Respondents:** D4N Technologies…

## Timeline

- **2019-01-21 — COC Meet…**: The Resolution was passed in the…
- **2019-02-01 — Order Del…**: Order delivered on…

## 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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