# In the matter of Nithin Grains and Mills Private Limited IA No. 502-2018 In CP(IB) No. 319-9-HDB-2017

> NCLT judgment dated 2018-11-12. Citation: TCN-2018-NCLT-00362. The case involves an application filed by the Resolution Professional (RP) under Section 12A of…

- **Court:** NCLT
- **Order date:** 12 Nov 2018
- **Citation:** TCN-2018-NCLT-00362
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/nithin-grains-and-mills-private-limited-ia-no-502-2018-in-cpib-no-319-9-hdb-2017-5dc0db52

## Summary

### Background

The case involves an application filed by the Resolution Professional (RP) under Section 12A of the Insolvency and Bankruptcy Code (IBC) seeking permission to withdraw the Corporate Insolvency Resolution Process (CIRP) initiated against the Corporate Debtor, Nithin Grains & Mills Pvt Ltd. The CIRP was initially triggered by an application filed by the Operational Creditor, Vishwabharti Foods Private Limited, under Section 9 of the IBC. The Adjudicating Authority had admitted the application on 22.03.2018. The RP was appointed as per the orders of the Adjudicating Authority. The Committee of Creditors (COC) deferred the invitation of Expression of Interest (EOI) due to a proposal for One-Time Settlement (OTS) by the corporate debtor, which was under consideration

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## Facts

Vishwabharti Foods Private Limited, an Operational Creditor, initiated Corporate Insolvency Resolution Process (CIRP) against Nithin Grains & Mills Pvt Ltd, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code (IBC). The Adjudicating Authority admitted the application on 22.03.2018. The Committee of Creditors (COC) deferred the invitation of Expression of Interest (EOI) due to a proposal for One-Time Settlement (OTS) by the Corporate Debtor, which was under consideration with Bank of India, the Financial Creditor. The CIRP period was coming to an end, and the Resolution Professional (RP) filed an application to extend the CIRP period, which was granted by the Tribunal. The Corporate Debtor negotiated a settlement with the Operational Creditor

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## Issues and analysis

### Issue 1: Whether the Adjudicating Authority can allow the withdrawal of an application admitted under …

**Ratio:** Section 12A of the IBC allows the Adjudicating Authority to permit the withdrawal of an

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**Reasoning:** The court reasoned that Section 12A explicitly empowers the Adjudicating Authority to

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**Interpretation:** Section 12A provides a mechanism for parties to resolve disputes outside the

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**Application:** In this case, the application for withdrawal was filed by the Resolution

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## Parties

- **Judges:** Ratakonda…; Ratakonda…
- **Respondents:** Nithin Grains And…

## Timeline

- **2018-03-22 — Admission of Ap…**: The Adjudicating Authority admitted the application filed by Vishwabharti Foods Private…
- **2018-09-12 — EOI Issu…**: Expression of Interest (EOI) was issued on…

## 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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