# In the matter of EMT Megatherm Pvt. Ltd. CA (IB) No. 828-KB-2018 In C.P.(IB) No. 215-KB-2018

> NCLT judgment dated 2018-09-07. Citation: TCN-2018-NCLT-00805. The case involves C.P.(IB) No. 215/KB/2018 and CA (IB) No. 828/KB/2018 before the National…

- **Court:** NCLT
- **Order date:** 7 Sept 2018
- **Citation:** TCN-2018-NCLT-00805
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/emt-megatherm-pvt-ltd-ca-ib-no-828-kb-2018-in-cpib-no-215-kb-2018-99eecaea

## Summary

### Background

The case involves C.P.(IB) No. 215/KB/2018 and CA (IB) No. 828/KB/2018 before the National Company Law Tribunal (NCLT), Kolkata Bench. The Resolution Professional filed CA(IB)No.828/KB/2018 under Section 12(A) for withdrawal of the application based on the decision of the Committee of Creditors (COC).

## Facts

Oriental Agencies-Vs-EMT Megatherm Pvt.Ltd. is the company involved. The Resolution Professional filed CA(IB)No.828/KB/2018 under Section 12(A) for withdrawal of the application based on the decision of the COC. The COC unanimously approved the withdrawal subject to the payment of CIRP costs. The CIRP cost has already been paid. The NCLT permitted the withdrawal and disposed of C.P.(IB)215/KB/2018 as withdrawn.

## Issues and analysis

### Issue 1: Whether the application for withdrawal under …

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

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**Reasoning:** The court reasoned that the Resolution Professional filed the application for withdrawal

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**Interpretation:** Section 12(A) provides a mechanism for withdrawing CIRP applications if certain

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**Application:** In this case, the Resolution Professional's application for withdrawal was

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## Parties

- **Judges:** Jinan…
- **Respondents:** EMT Megatherm…

## Timeline

- **2018-09-07 — Hearing…**: Hearing held on September…
- **2018-09-07 — Order Da…**: NCLT permitted the withdrawal and disposed…

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