# In the matter of Nirmiti Stamping Pvt. Ltd. MA 14-2020 in C.P.(IB)-1527(MB)-2018

> NCLT judgment dated 2020-02-11. Citation: TCN-2020-NCLT-02011. This case involves an application filed under Section 12(A) of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 11 Feb 2020
- **Citation:** TCN-2020-NCLT-02011
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/nirmiti-stamping-pvt-ltd-ma-14-2020-in-cpib-1527mb-2018-3c46d882

## Summary

### Background

This case involves an application filed under Section 12(A) of the Insolvency and Bankruptcy Code seeking to allow the Operational Creditor to withdraw the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor. The application was filed by the Interim Resolution Professional (IRP) after the CIRP commencement order was issued on 2019-11-18. Public advertisement was issued on 2019-12-11, but no claims were received, and the Committee of Creditors (COC) was not constituted.

## Facts

An application was filed under Section 12(A) of the Insolvency and Bankruptcy Code to withdraw the CIRP against SKM Steels Ltd. The application was filed by the IRP after the CIRP commencement order was issued on 2019-11-18. Public advertisement was issued on 2019-12-11, but no claims were received, and the COC was not constituted. The IRP submitted that the CIRP costs have been paid in full. The court considered the application and submissions and was satisfied that the application should be allowed. The CIRP was initiated against the Corporate Debtor. The IRP is discharged from his role and the Board of Directors of the Corporate Debtor is restored to its original position. The CIRP cost of Rs. 1,08,000/- has been paid.

## Issues and analysis

### Issue 1: Whether the application to withdraw the CIRP under Section 12(A) of the Insolvency and Bankruptcy …

**Ratio:** Section 12(A) of the Insolvency and Bankruptcy Code allows for the withdrawal of CIRP

…

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

…

**Interpretation:** Section 12(A) provides a mechanism for withdrawing CIRP, typically when a

…

**Application:** In this case, although the COC was not constituted, the court allowed the

…

## Parties

- **Judges:** SHRI. RAJASEKHAR…; Ravikumar…; +1 more
- **Respondents:** SKM Steel…; Nirmiti Stamping…

## Timeline

- **2019-11-18 — Order for Commencement…**: Order issued for the commencement of…
- **2019-12-11 — Public Advert…**: Public advertisement…

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-chandigarh/nirmiti-stamping-pvt-ltd-ma-14-2020-in-cpib-1527mb-2018-3c46d882