# In the matter of Harvest Hotels and Services Apartments Pvt. Ltd. (IB)-79(PB)-2019

> NCLT judgment dated 2019-09-05. Citation: TCN-2019-NCLT-01560. This case involves an application filed under Section 12A of the Insolvency & Bankruptcy Code,…

- **Court:** NCLT
- **Order date:** 5 Sept 2019
- **Citation:** TCN-2019-NCLT-01560
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/harvest-hotels-and-services-apartments-pvt-ltd-ib-79pb-2019-b21dad0d

## Summary

### Background

This case involves an application filed under Section 12A of the Insolvency & Bankruptcy Code, 2016, by the Interim Resolution Professional (IRP). The application is related to the minutes of the 6th Committee of Creditors (CoC) meeting held on August 23, 2019, where the withdrawal of the application was discussed. The CoC members, with 100% voting share, resolved in favor of withdrawing the company petition.

## Facts

Central Bank of India Ltd. filed an application against Harvest Hotels and Services Apartments Pvt. Ltd. under the Insolvency & Bankruptcy Code, 2016. During the Corporate Insolvency Resolution Process (CIRP), the Interim Resolution Professional (IRP) convened a Committee of Creditors (CoC). In the 6th CoC meeting held on August 23, 2019, the members discussed the withdrawal of the application. The CoC members, holding 100% of the voting share, unanimously agreed to withdraw the company petition. The IRP then filed an application under Section 12A of the IBC, seeking permission to withdraw the CIRP. The application included the minutes of the CoC meeting and Form FA, which confirmed that the claims of the CoC members were being addressed and that a loan

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## Issues and analysis

### Issue 1: Whether the application under Section 12A of the Insolvency & Bankruptcy Code, 2016, for …

**Ratio:** Section 12A of the Insolvency & Bankruptcy Code, 2016, allows for the withdrawal of

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**Reasoning:** The court considered the fact that the CoC, with 100% voting share, had resolved in favor

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**Interpretation:** Section 12A provides a mechanism for the withdrawal of CIRP applications when

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**Application:** In this case, the CoC's unanimous decision to withdraw the application, coupled

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## Parties

- **Judges:** DEEPTI M…; SH. S.K MOH…
- **Appellants:** Central Bank of…
- **Respondents:** Harvest Hotels…

## Timeline

- **2019-08-23 — 6th CoC M…**: The 6th Committee of Creditors (CoC) meeting was held, during which the withdrawal of the…
- **2019-09-05 — Order Del…**: The order allowing the withdrawal of the application under Section 12A of the Insolvency…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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