# In the matter of Liquid Glass Hospitality LLP MA 4089-2019 in C.P.(IB)- 2399-(MB)-2019

> NCLT judgment dated 2020-02-17. Citation: TCN-2020-NCLT-01928. The case involves an application filed by the Resolution Professional (RP) under Section 12A…

- **Court:** NCLT
- **Order date:** 17 Feb 2020
- **Citation:** TCN-2020-NCLT-01928
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/liquid-glass-hospitality-llp-ma-4089-2019-in-cpib-2399-mb-2019-a8549d35

## Summary

### Background

The case involves an application filed by the Resolution Professional (RP) under Section 12A for withdrawal of the Corporate Insolvency Resolution Process (CIRP) petition. The withdrawal is based on a resolution passed by the Committee of Creditors (CoC) with a 100% voting share. The Operational Creditor and the Corporate Debtor's counsel are present. The Operational Creditor confirms receiving payment from the Corporate Debtor. Previously, the court directed the Operational Creditor to pay Rs. 50,000 towards the balance fees to the RP, which has been paid. However, the RP's counsel claims entitlement to a fee of Rs. 2,00,000.

## Facts

Eatigo India Pvt Ltd initiated a Corporate Insolvency Resolution Process (CIRP) against Liquid Glass Hospitality LLP. The Resolution Professional (RP) filed an application under Section 12A of the Insolvency and Bankruptcy Code (IBC) for the withdrawal of the CIRP petition, supported by a 100% vote from the Committee of Creditors (CoC). The Operational Creditor received payment from the Corporate Debtor. The court had previously directed the Operational Creditor to pay Rs. 50,000 towards the RP's fees, which was complied with. The RP claimed entitlement to a fee of Rs. 2,00,000. The original petition was filed for Rs. 6,36,000, and the CoC and Operational Creditor had already incurred Rs. 8,00,000 in RP fees and expenses. The court considered the payment of Rs. 50,000

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## Issues and analysis

### Issue 1: Whether the application for withdrawal of the CIRP petition under Section 12A of the IBC should be …

**Ratio:** Section 12A of the IBC allows for the withdrawal of a CIRP application with the approval

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**Reasoning:** The court considered the CoC's resolution, which had a 100% voting share in favor of

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

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**Application:** In this case, the CoC's 100% vote in favor of withdrawal, coupled with the

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## Parties

- **Judges:** SUCHITRA KANUPARTH…; V. Nallasen…; +1 more
- **Appellants:** Eatigo India Pvt.…
- **Respondents:** Liquid Glass…

## Timeline

- **2019-01-01 — Filing of C.P.(IB)…**: The initial Corporate Insolvency Resolution Process (CIRP) petition was filed for…
- **2019-01-01 — Filing of MA 4…**: MA 4089/2019 was 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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