# In the matter of J R T Agromin Trading Pvt. Ltd. MA-1324-2019 in IBA-893-2019

> NCLT judgment dated 2019-12-03. Citation: TCN-2019-NCLT-00362. The document pertains to an application (MA/1324/2019) filed in connection with an insolvency…

- **Court:** NCLT
- **Order date:** 3 Dec 2019
- **Citation:** TCN-2019-NCLT-00362
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/j-r-t-agromin-trading-pvt-ltd-ma-1324-2019-in-iba-893-2019-0a464bd7

## Summary

### Background

The document pertains to an application (MA/1324/2019) filed in connection with an insolvency resolution process (IBA/893/2019). The application was filed by the Interim Resolution Professional (IRP) based on Form-FA, which was submitted by the Applicant before the constitution of the Committee of Creditors (CoC).

## Facts

The Interim Resolution Professional (IRP) filed an application (MA/1324/2019) based on Form-FA, submitted by the Applicant, before the constitution of the Committee of Creditors (CoC) in the matter of IBA/893/2019. The Bench was satisfied that the withdrawal was in compliance with Regulations 30A(1)(a) r/w.3 of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Rules, 2016. The key fact is the compliance of the withdrawal with the regulations, which led to the dismissal of the insolvency resolution process.

## Issues and analysis

### Issue 1: Whether the application for withdrawal (MA/1324/2019) is in compliance with the relevant …

**Ratio:** The legal principle applied is that an application for withdrawal of an insolvency

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**Reasoning:** The court reasoned that the application filed by the IRP, based on Form-FA submitted by

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**Interpretation:** The interpretation of Regulations 30A(1)(a) r/w.3 involves understanding the

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**Application:** In this specific case, the IRP filed the application based on Form-FA before

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## Parties

- **Judges:** B.S.V. Prakash…; S. VIJAYARA…
- **Appellants:** M S SANKAR…
- **Respondents:** JRT AGROMIN…

## Timeline

- **2019-12-03 — Hearing…**: Hearing held at 10.30…
- **2019-01-01 — Application…**: MA/1324/2019 filed in…

## 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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