# In the matter of Prithvi Plasto India Pvt. Ltd. IA-3516-2020 in (IB)-1727-ND-2019

> NCLT judgment dated 2020-09-15. Citation: TCN-2020-NCLT-00627. The case involves an application filed under Section 12A for the withdrawal of IB-1727/ND/2019.…

- **Court:** NCLT
- **Order date:** 15 Sept 2020
- **Citation:** TCN-2020-NCLT-00627
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/prithvi-plasto-india-pvt-ltd-ia-3516-2020-in-ib-1727-nd-2019-75d28a5b

## Summary

### Background

The case involves an application filed under Section 12A for the withdrawal of IB-1727/ND/2019. The application was perused, and statements of the parties were recorded in the order dated 08.09.2020.

## Facts

Prayag Polytech Pvt. Ltd. filed an application/petition against M/s Prithvi Plasto India Pvt. Ltd. The application was filed under Section 12A for withdrawal of IB-1727/ND/2019. The IRP, Mr. Arnav Kumar, stated that he received fees of Rs. 32,500/-. He also stated that he did not take possession of any assets or documents of the Corporate Debtor. The court perused the application and the statements of the parties recorded in the order dated 08.09.2020.

## Issues and analysis

### Issue 1: Whether the application for withdrawal …

**Ratio:** The court has the discretion to allow the withdrawal of an application under Section 12A

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**Reasoning:** The court considered the submissions made and the documents on record and found it

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**Interpretation:** Section 12A of the IBC allows for the withdrawal of an application admitted

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**Application:** The court applied its discretion to allow the withdrawal of the application,

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## Parties

- **Judges:** DEEPTI M…; SUMΙΤΑ PURK…
- **Appellants:** Prayag Polytech…
- **Respondents:** M/s Prithvi…

## Timeline

- **2020-09-08 — Statements R…**: Statements of the…
- **2020-09-15 — Order Del…**: Order delivered allowing the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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