# In the matter of RDP Workstations Pvt. Ltd. IA No. 1089-2019 in CP (IB) No.419-9-HDB-2019

> NCLT judgment dated 2019-11-29. Citation: TCN-2019-NCLT-00395. The case involves an application filed under Section 12A of the Insolvency and Bankruptcy Code…

- **Court:** NCLT
- **Order date:** 29 Nov 2019
- **Citation:** TCN-2019-NCLT-00395
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/rdp-workstations-pvt-ltd-ia-no-1089-2019-in-cp-ib-no419-9-hdb-2019-7080d62c

## Summary

### Background

The case involves an application filed under Section 12A of the Insolvency and Bankruptcy Code (IBC), 2016, seeking permission to withdraw a Company Petition (CP(IB)No.419/9/HDB/2019). The petition was initially admitted under Section 9 of the IBC by the Operational Creditor, leading to the initiation of the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor. A moratorium was ordered. Subsequently, the parties reached a settlement, with the Corporate Debtor paying Rs. 4,00,900/- to the Operational Creditor for full and final settlement of the claim.

## Facts

The Operational Creditor, Concept Public Relations India Ltd, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against the Corporate Debtor, RDP Workstations Pvt Ltd. The National Company Law Tribunal (NCLT), Hyderabad Bench, admitted the petition on 2019-11-20, initiating the Corporate Insolvency Resolution Process (CIRP) and imposing a moratorium. An Interim Resolution Professional (IRP) was appointed. Subsequently, the parties settled the matter, with the Corporate Debtor paying Rs. 4,00,900/- to the Operational Creditor towards full and final settlement of the claim. The Operational Creditor had initially paid Rs. 1,00,000/- to the IRP to cover expenses. The IRP incurred additional expenses of Rs. 20,000/- for publication. The Corporate

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## Issues and analysis

### Issue 1: Whether the Tribunal can allow the withdrawal of a Company Petition under Section 12A of the …

**Ratio:** Section 12A of the Insolvency and Bankruptcy Code, 2016, read with Regulation 30A of the

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**Reasoning:** The Tribunal reasoned that the parties had settled the matter amicably, and the

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**Interpretation:** Section 12A provides a mechanism for withdrawal of CIRP applications based on

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**Application:** In this case, the Tribunal applied Section 12A and Regulation 30A to allow the

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## Parties

- **Judges:** Ratakonda…
- **Appellants:** Concept Public…
- **Respondents:** RDP Workstations…

## Timeline

- **2019-11-20 — Admission of…**: The Tribunal admitted the petition filed under Section 9 of the IBC by the Operational…
- **2019-11-23 — Paper Publi…**: Paper publication was given and…

## 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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