# In the matter of The Trivandrum Specialists Hospital Pvt. Ltd. IBA-42-KOB-2019

> NCLT judgment dated 2020-01-01. Citation: TCN-2020-NCLT-02593. The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor,…

- **Court:** NCLT
- **Order date:** 1 Jan 2020
- **Citation:** TCN-2020-NCLT-02593
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/the-trivandrum-specialists-hospital-pvt-ltd-iba-42-kob-2019-a0d6dcc2

## Summary

### Background

The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor, M/s. Trivandrum Specialists Hospital Pvt Ltd, Thiruvananthapuram, by an order dated 2019-12-19. Shri Renahan Vamakesan was appointed as the Interim Resolution Professional (IRP). The IRP proceeded to carry out the necessary functions and responsibilities stipulated by the Code.

## Facts

The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s. Trivandrum Specialists Hospital Pvt Ltd. The Operational Creditor and the Corporate Debtor reached a settlement. The Interim Resolution Professional (IRP) filed a Withdrawal Memo after the Operational Creditor settled the dispute with the Corporate Debtor. The IRP received Form FA and settlement agreements. The Operational Creditor submitted Form FA to the IRP for withdrawal of the CIRP process. The Tribunal approved the withdrawal application.

## Issues and analysis

### Issue 1: Whether the application for withdrawal of the CIRP process should be approved based on the …

**Ratio:** The legal principle applied is that if the Operational Creditor and the Corporate Debtor

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**Reasoning:** The court reasoned that since the Operational Creditor had settled the dispute with the

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**Interpretation:** This interprets Section 12 of the IBC 2016 and Regulation 30A of CIRP

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**Application:** In this specific case, the Operational Creditor and the Corporate Debtor

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## Parties

- **Judges:** Ashok Kumar…; Veera Brahma Rao…
- **Respondents:** The Trivandrum…; Cuboid Infrastruct…

## Timeline

- **2019-12-19 — CIRP Init…**: Corporate Insolvency Resolution Process initiated against M/s. Trivandrum Specialists…
- **2020-01-01 — Order Da…**: Order delivered approving…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 12 — Time-limit for completion of insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-12)

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