# In the matter of Dharitri Infrastructure Pvt. Ltd.  I.A. 207-KB-2020 in CP(IB)No. 1173-KB-2019

> NCLT judgment dated 2020-02-06. Citation: TCN-2020-NCLT-02062. The case involves Ashoke Kumar Dasgupta Vs. Dharitri Infrastructure Pvt. Ltd. An application…

- **Court:** NCLT
- **Order date:** 6 Feb 2020
- **Citation:** TCN-2020-NCLT-02062
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/dharitri-infrastructure-pvt-ltd-ia-207-kb-2020-in-cpibno-1173-kb-2019-0d25e8d8

## Summary

### Background

The case involves Ashoke Kumar Dasgupta Vs. Dharitri Infrastructure Pvt. Ltd. An application for withdrawal to the CoC under section 12A of the Code was filed because the matter was settled between the parties. The sole Financial Creditor has died, and his heir filed the withdrawal application.

## Facts

The case involves a dispute between Ashoke Kumar Dasgupta and Dharitri Infrastructure Pvt. Ltd. The sole Financial Creditor in the matter has passed away, and his heir has submitted an application for withdrawal to the Committee of Creditors (CoC) under Section 12A of the Insolvency and Bankruptcy Code (IBC). This withdrawal application is based on the fact that the matter has been settled between the involved parties. The Resolution Professional (RP) is present and has received his fees and costs. The CP stands disposed of, and the IA is also disposed of accordingly. The key fact is the settlement between the parties, which led to the withdrawal application.

## Issues and analysis

### Issue 1: Whether the application for withdrawal under Section 12A of the IBC should be allowed given the …

**Ratio:** Section 12A of the IBC allows for withdrawal of an application admitted under Section 7,

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**Reasoning:** The court considered the fact that the matter was settled between the parties and the

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**Interpretation:** Section 12A provides a mechanism for withdrawal when a settlement is reached,

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**Application:** Given the settlement and the application by the heir, the court allowed the

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## Parties

- **Judges:** Madan B.…; Harish Chander…
- **Appellants:** Ashoke Kumar…
- **Respondents:** Dharitri Infrastru…

## Timeline

- **2020-02-06 — Hearing…**: Hearing held on February…
- **N/A — Withdrawal App…**: Heir of the deceased Financial Creditor files an application for withdrawal under Section…

## 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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