# In the matter of Radhey Sham Tandon (MFG) Pvt. Ltd. (IB)-105(PB)-2018

> NCLT judgment dated 2019-04-25. Citation: TCN-2019-NCLT-03711. The case pertains to the Corporate Insolvency Resolution Process (CIRP) initiated under Section…

- **Court:** NCLT
- **Order date:** 25 Apr 2019
- **Citation:** TCN-2019-NCLT-03711
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/radhey-sham-tandon-mfg-pvt-ltd-ib-105pb-2018-4d2ac5aa

## Summary

### Background

The case pertains to the Corporate Insolvency Resolution Process (CIRP) initiated under Section 7 of the Insolvency and Bankruptcy Code. The Hon'ble Supreme Court permitted the withdrawal of the CIRP, which was triggered by the admission of a petition on 07.02.2019.

## Facts

The Oriental Bank of Commerce initiated CIRP against M/s. Radhey Sham Tandon (MFG) Pvt Ltd. The petition was admitted on 07.02.2019, triggering the CIRP. Subsequently, the Hon'ble Supreme Court, following the dictum of para 52 of the judgment rendered in Civil Appeal No. 99/2018 dated 25.01.2019 in the case of Swiss Ribbons Pvt. Ltd. & Anr. v. Union Bank of India & Ors., permitted the withdrawal of the CIRP. The charges of the IRP expenses/fee of the IRP stand paid as stated by the counsel for the IRP which has also been recorded in the Appellate Tribunal order. Consequently, the proceedings were brought to an end, and the case was closed.

## Issues and analysis

### Issue 1: Whether the Supreme Court's permission to …

**Ratio:** The Supreme Court has the authority to permit the withdrawal of CIRP under certain

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**Reasoning:** The Supreme Court's decision to allow the withdrawal was based on the specific

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**Interpretation:** The interpretation of the Supreme Court's power to permit withdrawal of CIRP is

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**Application:** In this case, the Supreme Court's permission to withdraw the CIRP was applied,

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## Parties

- **Judges:** M. M. K…; S. K. MOH…
- **Appellants:** Oriental Bank of…
- **Respondents:** M/s. Radhey Sham…
- **Advocates:** Kailash S…; Sabhay Cho…; +1 more

## Timeline

- **2019-02-07 — Petition Ad…**: The petition was…
- **2019-04-25 — Order Del…**: The order was delivered on…

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