# In the matter of Rahul Telematic and Software Technologies Ltd. CP (IB) No. 1189-KB-2018

> NCLT judgment dated 2019-10-30. Citation: TCN-2019-NCLT-00783. The case involves an application filed by the Resolution Professional under Section 12A for…

- **Court:** NCLT
- **Order date:** 30 Oct 2019
- **Citation:** TCN-2019-NCLT-00783
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/rahul-telematic-and-software-technologies-ltd-cp-ib-no-1189-kb-2018-223ea70a

## Summary

### Background

The case involves an application filed by the Resolution Professional under Section 12A for recording a settlement between the Operational Creditor and the Corporate Debtor. The Tribunal notes that no other claim has come forward and expresses satisfaction that the matter has been settled out of court.

## Facts

Bard Roy Infotech Pvt. Ltd. (Operational Creditor) initiated a Corporate Insolvency Resolution Process (CIRP) against Rahul Telematic and Software Technologies Ltd. (Corporate Debtor) under Section 9 of the IBC. The Resolution Professional filed an application under Section 12A of the IBC to record a settlement between the Operational Creditor and the Corporate Debtor. The Tribunal noted that the matter was settled out of the Tribunal and no other claims were outstanding. The Operational Creditor requested to withdraw the application.

## Issues and analysis

### Issue 1: Whether the Tribunal should allow the withdrawal of the application filed under Section 12A of the …

**Ratio:** The legal principle applied is that if a settlement is reached between the Operational

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**Reasoning:** The Tribunal reasoned that since the Operational Creditor and the Corporate Debtor had

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

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**Application:** In this case, the Tribunal applied the ratio and reasoning by considering the

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## Parties

- **Judges:** Jinan…; Harish Chander…
- **Respondents:** Rahul Telematic…
- **Advocates:** Aryaa Chat…; Satynki Cha…; +1 more

## Timeline

- **2018-01-01 — CP (IB)…**: CP (IB) No. 1189/KB/2018…
- **2019-10-30 — Hearing…**: Hearing on the application filed by the…

## 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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