# In the matter of G.P Realtors Pvt. Ltd.

> NCLT judgment dated 2026-01-27. Citation: TCN-2026-NCLT-00147. An application was filed under Section 12A of the IBC by the RP on behalf of the CoC for…

- **Court:** NCLT
- **Order date:** 27 Jan 2026
- **Citation:** TCN-2026-NCLT-00147
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/gp-realtors-pvt-ltd-9116c90a

## Summary

### Background

An application was filed under Section 12A of the IBC by the RP on behalf of the CoC for withdrawal of CP(IB) No.171/Chd/Hry/2021.

## Facts

An application under Section 12A of the IBC was filed by the RP on behalf of the CoC for withdrawal of CP(IB) No.171/Chd/Hry/2021.

The CoC approved the withdrawal of CP(IB) No.171/Chd/Hry/2021 with 100% vote share on 10.01.2026.

The withdrawal was based on a settlement between the parties.

Dover Aid V Pte Ltd. stated that they have no objection against the withdrawal of the CP(IB) No.171/Chd/Hry/2021.

The settlement proposal was submitted by the Suspended Director on 28.12.2025.

## Issues and analysis

### Issue 1: Whether the application for withdrawal of CP(IB) No.171/Chd/Hry/2021 under Section 12A of the IBC …

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

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**Reasoning:** The CoC approved the withdrawal with 100% vote share, indicating that the requirements of

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**Interpretation:** The tribunal interpreted Section 12A to allow for the withdrawal of the

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**Application:** The tribunal applied Section 12A to the facts of the case, allowing the

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## Parties

- **Judges:** SHISHIR A…; K. Bi…
- **Appellants:** Omkara Assets…
- **Respondents:** G.P Realtors Pvt.…
- **Other parties:** Omkara Assets…
- **Advocates:** Gopal…; Sumer Sing…; +19 more

## Timeline

- **2025-12-28 — Settlement P…**: Settlement proposal submitted…
- **2026-01-06 — CoC Meet…**: CoC meeting held where the withdrawal of…

## 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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