# In the matter of S.N. Plumbing Pvt. Ltd. MA 1231-2018 in
C.P.(IB)-1268-NCLT-(MB)-MAH-2017

> NCLT judgment dated 2019-09-19. Citation: TCN-2019-NCLT-01382. This case involves an application submitted by the Resolution Professional seeking an order…

- **Court:** NCLT
- **Order date:** 19 Sept 2019
- **Citation:** TCN-2019-NCLT-01382
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/sn-plumbing-pvt-ltd-ma-1231-2018-in-cpib-1268-nclt-mb-mah-2017-60f53e13

## Summary

### Background

This case involves an application submitted by the Resolution Professional seeking an order under Section 12A of the Insolvency Code for withdrawal of the insolvency petition. An initial petition under Section 9 of the IB Code was admitted on 16.08.2017 for a debt of Rs. 13,76,525. Mr. Sanjay Kumar Ruia was initially appointed as the Interim Resolution Professional (IRP) but was later replaced by Mr. Ajay Agrawal. The case has a history of disciplinary action by IBBI against the initial IRP. The Committee of Creditors (CoC) meetings held on 18.09.2018, 24.09.2018, and 16.10.2018, included discussions regarding the withdrawal of the petition under Section 12A. The CoC agreed to comply with the payment of CIRP costs as per the NCLT's order dated 25.07.2018, and decided

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## Facts

On 23.10.2018, an application was submitted by the Resolution Professional seeking an order under Section 12A of the Insolvency Code. An earlier petition under Section 9 of the IB Code was admitted on 16.08.2017, concerning a debt of Rs. 13,76,525. Sanjay Kumar Ruia was initially appointed as the IRP but was later replaced by Ajay Agrawal. The case had a history of disciplinary action by IBBI against the initial IRP. The Committee of Creditors (CoC) held meetings on 18.09.2018, 24.09.2018, and 16.10.2018, where the withdrawal of the petition under Section 12A was discussed. The CoC agreed to comply with the payment of CIRP costs as per the NCLT's order dated 25.07.2018. Payment was received from Reliance and credited to the account of S N Plumbing P Ltd, with CSB. The

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## Issues and analysis

### Issue 1: Whether the application for withdrawal of the insolvency petition under Section 12A of the …

**Ratio:** Section 12A of the Insolvency and Bankruptcy Code, 2016, allows for the withdrawal of an

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**Reasoning:** The Committee of Creditors approved the withdrawal of the petition, and the dues were

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**Interpretation:** Section 12A provides a mechanism for parties to resolve disputes outside the

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**Application:** In this case, the CoC approved the withdrawal, and the dues were settled with

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## Parties

- **Judges:** SH. M.K. S…; SH. CHANDRA BHAN…
- **Appellants:** Jai Ambe Enterpris…
- **Respondents:** S N Plumbing Pvt.…

## Timeline

- **2017-08-16 — Petition Ad…**: A Petition u/s.9 of IB Code was "Admitted" vide Order dated 16.08.2017 in respect of a…
- **2018-07-25 — Interim…**: Mr. Sanjay Kumar Ruia was replaced by Mr. Ajay Agrawal (Resolution Professional of S.N.…

## 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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