# In the matter of Dalmia Biz Medicare Ltd. IA-828-2021 in (IB)-1509-(ND)-2019

> NCLT judgment dated 2021-02-24. Citation: TCN-2021-NCLT-02932. The IRP filed an application for the withdrawal of the CIRP based on Form FA received from the…

- **Court:** NCLT
- **Order date:** 24 Feb 2021
- **Citation:** TCN-2021-NCLT-02932
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/dalmia-biz-medicare-ltd-ia-828-2021-in-ib-1509-nd-2019-1a6ee562

## Summary

### Background

The IRP filed an application for the withdrawal of the CIRP based on Form FA received from the Operational Creditor, who is the sole member of the CoC. The Operational Creditor informed the first CoC meeting held on 14.02.2020 about their intention to withdraw their claim.

## Facts

The IRP filed an application to withdraw the CIRP. The basis for the withdrawal was a Form FA received from the Operational Creditor. The Operational Creditor was the sole member of the Committee of Creditors (CoC). In the first CoC meeting held on 14.02.2020, the Operational Creditor informed the CoC of their intention to withdraw their claim. The fresh application was filed along with Form FA at page 24 of the application. The constitution of CoC has been referred to at page 7, which shows that the Applicant is the sole member of the CoC. The court noted that the approval for withdrawal was granted by 100% voting of the CoC. The IRP confirmed receiving full fees and expenses.

## Issues and analysis

### Issue 1: Whether the IRP can withdraw the CIRP application based on the Operational Creditor's request and …

**Ratio:** The legal principle is that the Adjudicating Authority has the power to allow the

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**Reasoning:** The court reasoned that the Operational Creditor, being the sole member of the CoC, had

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**Interpretation:** This issue involves the interpretation of the Insolvency and Bankruptcy Code

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**Application:** In this case, the Operational Creditor, as the sole member of the CoC, provided

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## Parties

- **Judges:** SHRI. ABNI RANJAN…; SHRI. L. N.…
- **Appellants:** M/s. Randstad…
- **Respondents:** M/s. Dalmia Biz…

## Timeline

- **2020-02-14 — First CoC M…**: The Operational Creditor, the sole member of the CoC, informed the meeting of their…
- **2021-02-24 — Order Del…**: The NCLT delivered the order…

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