# In the matter of Delecto Foods Private Limited IA No. 172-2020 in CP (IB) No. 450-9-HDB-2019

> NCLT judgment dated 2020-03-02. Citation: TCN-2020-NCLT-01728. The case involves an application (IA No. 172 of 2020) filed in an ongoing Corporate Insolvency…

- **Court:** NCLT
- **Order date:** 2 Mar 2020
- **Citation:** TCN-2020-NCLT-01728
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/delecto-foods-private-limited-ia-no-172-2020-in-cp-ib-no-450-9-hdb-2019-9a150312

## Summary

### Background

The case involves an application (IA No. 172 of 2020) filed in an ongoing Corporate Insolvency Resolution Process (CIRP) against Delecto Foods Private Limited. The CIRP was initiated based on a petition (CP (IB) No.450/9/HDB/2019) admitted by the Adjudicating Authority on 05.02.2020. Mr. Chillale Rajesh was appointed as the Interim Resolution Professional (IRP). A public announcement was made on 10.02.2020 to invite claims from creditors. The application seeks the withdrawal of the CIRP under Section 12A of the Insolvency and Bankruptcy Code, 2016.

## Facts

The Corporate Insolvency Resolution Process (CIRP) was initiated against Delecto Foods Private Limited based on CP (IB) No.450/9/HDB/2019, which was admitted on 05.02.2020. Mr. Chillale Rajesh was appointed as the Interim Resolution Professional (IRP). A public announcement was made on 10.02.2020, setting 21.02.2020 as the last date for submitting claims. However, no claims were received from creditors by 23.02.2020. The Operational Creditor, M/s. Jupiter Food Products Private Limited, submitted Form FA for withdrawal of the CIRP. The Committee of Creditors (CoC) was not constituted. The Operational Creditor bore all the estimated expenses incurred towards the Insolvency Resolution Process, amounting to Rs.4,75,000/-. The Director of the Corporate Debtor expressed the

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## Issues and analysis

### Issue 1: Whether the Adjudicating Authority can allow the withdrawal of the Corporate Insolvency Resolution …

**Ratio:** Section 12A of the Insolvency and Bankruptcy Code, 2016, read with Regulation 30A of the

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**Reasoning:** The Adjudicating Authority reasoned that the application for withdrawal (Form FA) was

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**Interpretation:** Section 12A provides a mechanism for withdrawing a CIRP, recognizing that

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**Application:** In this case, the application for withdrawal was made before the CoC was

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## Parties

- **Judges:** K. Anantha…; BINOD KUMAR…
- **Appellants:** Mr.Chillale…
- **Respondents:** Delecto Foods…

## Timeline

- **2019-01-01 — Filing of CP (IB)…**: Company Petition (CP (IB)…
- **2020-02-05 — Admission of CP (IB)…**: The Adjudicating Authority admitted…

## 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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