# In the matter of Unilec Engineers Ltd. IA No.663-ND-2021 in (IB)-1340-ND-2018

> NCLT judgment dated 2021-02-08. Citation: TCN-2021-NCLT-03102. This case involves an application filed under Section 12(A) of the Insolvency & Bankruptcy…

- **Court:** NCLT
- **Order date:** 8 Feb 2021
- **Citation:** TCN-2021-NCLT-03102
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/unilec-engineers-ltd-ia-no663-nd-2021-in-ib-1340-nd-2018-acfe5b63

## Summary

### Background

This case involves an application filed under Section 12(A) of the Insolvency & Bankruptcy Code, 2016, seeking the withdrawal of an insolvency application (IB-1340/ND/2018). The Resolution Professional (RP) stated that the Committee of Creditors (CoC) approved the withdrawal of the insolvency application with 100% voting in its 5th meeting held on January 22, 2021.

## Facts

M/s C & S Electric Ltd. filed an insolvency application (IB-1340/ND/2018) against M/s Unllec Engineers Ltd. An application (IA No. 663/ND/2021) was filed under Section 12(A) of the Insolvency & Bankruptcy Code, 2016, seeking withdrawal of the insolvency application. The Resolution Professional (RP) stated that the Committee of Creditors (CoC) approved the withdrawal of the insolvency application with 100% voting in its 5th meeting held on 22.01.2021. Only one claim from the Operational Creditor was received, after the expiry of the claim submission deadline, and it had not been verified. The court considered these facts and allowed the withdrawal of the insolvency application.

## Issues and analysis

### Issue 1: Whether the application for withdrawal of the insolvency application IB-1340/ND/2018 should be …

**Ratio:** Section 12(A) of the Insolvency & Bankruptcy Code, 2016 allows for the withdrawal of

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**Reasoning:** The court considered the submissions made and the documents on record, including the RP's

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

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**Application:** In this case, the CoC approved the withdrawal with 100% voting. The court

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## Parties

- **Judges:** DEEPTI M…; SUMITA PURK…; +1 more
- **Appellants:** M/s C & S…
- **Respondents:** M/sUnllec…

## Timeline

- **2021-01-22 — CoC Meet…**: The Committee of Creditors (CoC) held its 5th meeting and approved the withdrawal of the…
- **2021-02-08 — Order Del…**: The NCLT delivered the order allowing the withdrawal of the insolvency application…

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