# In the matter of Endless Properties Pvt. Ltd. CA(IB)No. 1203 & 1491-KB-2019 in CP(IB)No. 737-KB-2019

> NCLT judgment dated 2019-12-03. Citation: TCN-2019-NCLT-00356. The case involves an application (CA(IB) No. 1491/KB/2019) filed by the Resolution Professional…

- **Court:** NCLT
- **Order date:** 3 Dec 2019
- **Citation:** TCN-2019-NCLT-00356
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/endless-properties-pvt-ltd-caibno-1203-1491-kb-2019-in-cpibno-737-kb-2019-0626ee90

## Summary

### Background

The case involves an application (CA(IB) No. 1491/KB/2019) filed by the Resolution Professional (RP) under Section 12A, seeking withdrawal of CP(IB) No. 737/KB/2019. The reason for the withdrawal is the settlement arrived at between the Operational Creditor and the Corporate Debtor.

## Facts

Vaikunth Motor Finance Pvt. Ltd. is involved in a case against Endless Properties Pvt. Ltd. A Corporate Insolvency Resolution Process (CIRP) application (CP(IB) No. 737/KB/2019) was filed. The Resolution Professional (RP) filed an application (CA(IB) No. 1491/KB/2019) under Section 12A of the Insolvency and Bankruptcy Code (IBC) seeking withdrawal of the CIRP application due to a settlement between the Operational Creditor and the Corporate Debtor. The Committee of Creditors (CoC) approved the withdrawal with 100% vote share. The RP's fees and costs were discharged. The court found the settlement satisfactory and approved the withdrawal.

## Issues and analysis

### Issue 1: Whether the application for withdrawal of the Corporate Insolvency Resolution Process (CIRP) under …

**Ratio:** Section 12A of the Insolvency and Bankruptcy Code (IBC) allows for the withdrawal of a

…

**Reasoning:** The court reasoned that the matter was settled between the Operational Creditor and the

…

**Interpretation:** Section 12A provides a mechanism for withdrawing a CIRP application when a

…

**Application:** In this case, the Operational Creditor and the Corporate Debtor reached a

…

## Parties

- **Judges:** Jinan…; Harish Chander…
- **Respondents:** Endless Properties…
- **Advocates:** Mahesh chan…

## Timeline

- **2019-12-03 — Hearing…**: Hearing held on December…

## 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)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-chandigarh/endless-properties-pvt-ltd-caibno-1203-1491-kb-2019-in-cpibno-737-kb-2019-0626ee90