# In the matter of Rajendra Kumar MA-276-IB-2018 In CP-705-IB-2017

> NCLT judgment dated 2019-01-31. Citation: TCN-2019-NCLT-05089. The case involves an application related to corporate insolvency resolution process (CIRP). The…

- **Court:** NCLT
- **Order date:** 31 Jan 2019
- **Citation:** TCN-2019-NCLT-05089
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/rajendra-kumar-ma-276-ib-2018-in-cp-705-ib-2017-a8a996e6

## Summary

### Background

The case involves an application related to corporate insolvency resolution process (CIRP). The applicant, State Bank of India, leading a Committee of Creditors (CoC), filed a Withdrawal Memo.

## Facts

The State Bank of India, leading a Committee of Creditors (CoC), filed a Withdrawal Memo. This action followed the receipt of a Demand Draft for ₹35 Lakhs towards Corporate Insolvency Resolution Process (CIRP) costs. The funds originated from the Promoter-Director of the Respondent Company. The dismissal of the Company Application aligns with the order passed by the Supreme Court on 14.08.2018 in the matter of State Bank of India Vs. V.Ramakrishnan & ANR in Civil Appeal No: 3595 of 2018. The key fact is the withdrawal of the application due to the receipt of funds and in accordance with the Supreme Court's order.

## Issues and analysis

### Issue 1: Whether the Company Application should be dismissed as withdrawn given the receipt of funds by the …

**Ratio:** The legal principle applied is that an application can be withdrawn if the applicant

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**Reasoning:** The court reasoned that since the Applicant (State Bank of India), leading a CoC, filed a

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**Interpretation:** The interpretation is that the receipt of funds towards CIRP costs and the

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**Application:** The ratio and reasoning are applied to the specific facts of the case, where

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## Parties

- **Judges:** B.S.V. Prakash…; S. VIJAYARA…
- **Appellants:** State Bank of…
- **Respondents:** RAJENDRA…

## Timeline

- **2018-08-14 — Supreme Cour…**: The Supreme Court passed an order in the matter of State Bank of India Vs. V.Ramakrishnan…
- **2019-01-31 — Hearing…**: Hearing of Chennai Bench, Chennai National…

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