# In the matter of Sonhira Stationers Pvt. Ltd. MA 2752-2019 in CP. (IB)-4709-MB-2018

> NCLT judgment dated 2019-09-03. Citation: TCN-2019-NCLT-01611. The case involves an application for withdrawal of a Company Petition under Section 12A of the…

- **Court:** NCLT
- **Order date:** 3 Sept 2019
- **Citation:** TCN-2019-NCLT-01611
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/sonhira-stationers-pvt-ltd-ma-2752-2019-in-cp-ib-4709-mb-2018-9626175b

## Summary

### Background

The case involves an application for withdrawal of a Company Petition under Section 12A of the Insolvency and Bankruptcy Code (IBC), 2016. The Corporate Insolvency Resolution Process (CIRP) was initiated against Sonhira Stationers Private Limited. After a public announcement, only one claim was received from M/s Puthawala & Co. The applicant sought to withdraw the application, and the Committee of Creditors (CoC) approved the withdrawal with a 100% voting share.

## Facts

The Corporate Insolvency Resolution Process (CIRP) was initiated against Sonhira Stationers Private Limited. Following a public announcement, only one claim was received from M/s Puthawala & Co for Rs. 54,61,408. The applicant sought to withdraw the application under Section 12A of the IBC. The Committee of Creditors (CoC) approved the withdrawal with 100% voting share. The applicant provided a Demand Draft of Rs. 3,00,000 to cover the CIRP costs. The court initially allowed the withdrawal subject to the payment of costs of Rs. 1,00,000 to the Prime Minister's National Relief Fund. The applicant complied with the order by paying the costs, leading to the dismissal of the Company Petition.

## Issues and analysis

### Issue 1: Whether the application for withdrawal of the Company Petition under Section 12A of the IBC should …

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

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**Reasoning:** The court reasoned that since the CoC had approved the withdrawal with a 100% voting

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**Interpretation:** Section 12A provides a mechanism for withdrawing an insolvency application

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**Application:** In this case, the CoC approved the withdrawal with 100% voting share, and the

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## Parties

- **Judges:** V. P. S…; RAJESH S…
- **Appellants:** Tariq Put…
- **Respondents:** Sonhira Stationers…; Sonhira Stationers…

## Timeline

- **2019-06-20 — CIRP Init…**: Corporate Insolvency Resolution Process initiated against Sonhira Stationers Private…
- **2019-07-23 — Form FA Sub…**: Applicant submitted Form FA for…

## 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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