# In the matter of UTS Infratel Private Limited IA-1063(KB)-2020 & IA-261(KB)2021 in C.P. (IB)-50-KB-2019

> NCLT judgment dated 2021-04-20. Citation: TCN-2021-NCLT-02338. The case involves an application (IA 261/KB/2021) filed by the Resolution Professional (RP)…

- **Court:** NCLT
- **Order date:** 20 Apr 2021
- **Citation:** TCN-2021-NCLT-02338
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/uts-infratel-private-limited-ia-1063kb-2020-ia-261kb2021-in-cp-ib-50-kb-2019-83d40be3

## Summary

### Background

The case involves an application (IA 261/KB/2021) filed by the Resolution Professional (RP) seeking leave to withdraw the underlying Company Petition. The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor vide order dated 26.09.2019. A public announcement was made by the Interim Resolution Professional (IRP) on 11.10.2019, and the Committee of Creditors (CoC) was constituted on 26.12.2019. The IRP was confirmed as the RP on 04.02.2020. At the 4th meeting of the CoC on 19.02.2021, the applicant was authorized to file an application for the withdrawal of the underlying Company Petition. The resolution was passed with 100% voting.

## Facts

The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor on 2019-09-26. An Interim Resolution Professional (IRP) was appointed, who made a public announcement on 2019-10-11. A Committee of Creditors (CoC) was constituted on 2019-12-26. The IRP was confirmed as the Resolution Professional (RP) on 2020-02-04. At a CoC meeting on 2021-02-19, a resolution was passed with 100% voting to authorize the RP to file an application for the withdrawal of the underlying Company Petition. The RP filed IA 261/KB/2021 seeking leave to withdraw the petition. The RP confirmed that all CIRP costs and fees had been paid in full and that there were no other outstanding dues. The Adjudicating Authority allowed the application, closed the CIRP, freed the

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## Issues and analysis

### Issue 1: Whether the Adjudicating Authority should allow the withdrawal of the Company Petition and close …

**Ratio:** The Adjudicating Authority has the power to allow the withdrawal of a Company Petition

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**Reasoning:** The Adjudicating Authority considered the submissions of the RP, who confirmed that the

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**Interpretation:** This legal issue concerns the interpretation of the Insolvency and Bankruptcy

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**Application:** In this specific case, the RP's confirmation of full payment of dues and the

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## Parties

- **Judges:** Rajasekha…; Harish Chander…
- **Respondents:** ACTION CONSTRUCTIO…; UTS INFRATEL…

## Timeline

- **2019-09-26 — CIRP Init…**: CIRP initiated against…
- **2019-10-11 — Public Annou…**: Public announcement…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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