# In the matter of Hint Publication Pvt. Ltd. IA No. 191-2020 in CP No.515-ALD-2019

> NCLT judgment dated 2020-08-31. Citation: TCN-2020-NCLT-00752. The application, IA No.191/2020 in CP No.(IB)515/ALD/2019, was filed by the…

- **Court:** NCLT
- **Order date:** 31 Aug 2020
- **Citation:** TCN-2020-NCLT-00752
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/hint-publication-pvt-ltd-ia-no-191-2020-in-cp-no515-ald-2019-a724ad83

## Summary

### Background

The application, IA No.191/2020 in CP No.(IB)515/ALD/2019, was filed by the Applicant/Petitioner under Section 12A of the IBC, 2016 read with Regulation 30A of Insolvency & Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulation, 2016, seeking withdrawal of the Corporate Insolvency Resolution Process against M/s Hint Publication Pvt Ltd (Corporate Debtor). The matter was taken up through video conferencing.

## Facts

The Applicant/Petitioner filed IA No.191/2020 in CP No.(IB)515/ALD/2019 under Section 12A of the IBC, 2016, seeking withdrawal of the Corporate Insolvency Resolution Process against M/s Hint Publication Pvt Ltd, the Corporate Debtor. The CoC passed a resolution on 10.08.2020 with 100% voting share to withdraw the petition filed under Section 7 of the IBC. The present application is for withdrawal of the CIRP. The court considered the submissions and the CoC resolution.

## Issues and analysis

### Issue 1: Whether the application for withdrawal of the Corporate Insolvency Resolution Process should be …

**Ratio:** Section 12A of the IBC, 2016, read with Regulation 30A of the Insolvency & Bankruptcy

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**Reasoning:** The court considered the submissions made by the learned counsel for the

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**Interpretation:** Section 12A provides a mechanism for withdrawing a CIRP application if the CoC,

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**Application:** In this case, the CoC passed a resolution with 100% voting share to withdraw

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## Parties

- **Judges:** Rajesh Daya…
- **Respondents:** M/s Hint Publicati…

## Timeline

- **2020-08-10 — CoC Meet…**: The Committee of Creditors (CoC) passed a resolution for withdrawal of the present…
- **2020-08-31 — Court He…**: The matter was heard through video conferencing, and the court dismissed the petition as…

## 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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