# In the matter of ECS BiztechLtd. IA 30 of 2020 in C.P. (I.B) No. 26-NCLT-AHM-2018

> NCLT judgment dated 2021-01-09. Citation: TCN-2021-NCLT-03340. The case involves an application filed under Section 12A of the Insolvency and Bankruptcy Code…

- **Court:** NCLT
- **Order date:** 9 Jan 2021
- **Citation:** TCN-2021-NCLT-03340
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/ecs-biztechltd-ia-30-of-2020-in-cp-ib-no-26-nclt-ahm-2018-04b929e1

## Summary

### Background

The case involves an application filed under Section 12A of the Insolvency and Bankruptcy Code (IBC) r.w. Regulation 30A(1)(a) of CIRP Regulations, 2016 r.w. Rule 11 of NCLT Rules, 2016, seeking withdrawal of CP(IB)26/2018. The Corporate Insolvency Resolution Process (CIRP) was initiated, and an Interim Resolution Professional (IRP), Mr. Sunil Kumar Agrawal, was appointed. The parties subsequently reached a mutual settlement.

## Facts

The Operational Creditor initiated CIRP against the Corporate Debtor. An IRP, Sunil Kumar Agrawal, was appointed and performed his duties, including making a public announcement. Subsequently, the parties entered into a mutual settlement. The Operational Creditor received the amount due from the Respondent. The Committee of Creditors (COC) was not yet constituted. The Operational Creditor then filed an application under Section 12A of the IBC to withdraw the CIRP. The application was supported by an affidavit. The IRP's dues were cleared by the Operational Creditor.

## Issues and analysis

### Issue 1: Whether the Adjudicating Authority can allow the withdrawal of a CIRP application under Section 12A …

**Ratio:** The Adjudicating Authority has the power to allow or disallow an application for

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**Reasoning:** The court relied on the Supreme Court's observation in Swiss Ribbons Pvt. Ltd. & Anr.

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**Interpretation:** Section 12A of the IBC, read with Rule 11 of the NCLT Rules, provides the

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**Application:** In this case, the parties reached a settlement, and the Operational Creditor

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## Parties

- **Judges:** Manorama…; Chockalingam…
- **Respondents:** ECS Bizte…
- **Advocates:** Pratik Th…; Manish R.…; +1 more

## Timeline

- **2018-01-01 — CIRP Init…**: CP(IB) No.26/NCLT/AHM/20…
- **2019-12-16 — Admission of…**: CP(IB) 26/2018 was…

## 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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