# In the matter of Vertex Safety Products Pvt. Ltd. IA No. 1947 & 2261-2020 in CP (IB) No. 1910-MB-2019

> NCLT judgment dated 2021-04-27. Citation: TCN-2021-NCLT-02267. The matter pertains to IA No. 1947/2020 and IA No. 2261/2020 in CP (IB) No. 1910/MB/2019. IA…

- **Court:** NCLT
- **Order date:** 27 Apr 2021
- **Citation:** TCN-2021-NCLT-02267
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/vertex-safety-products-pvt-ltd-ia-no-1947-2261-2020-in-cp-ib-no-1910-mb-2019-64ad5497

## Summary

### Background

The matter pertains to IA No. 1947/2020 and IA No. 2261/2020 in CP (IB) No. 1910/MB/2019. IA No. 1947/2020 is an application for the revival of Duskline Infrastructure Pvt. Ltd. against its striking off by the Registrar of Companies (RoC). IA No. 2261/2020 is an application under Section 12A of the Insolvency and Bankruptcy Code (I&B Code), 2016, for withdrawal of the Corporate Insolvency Resolution Process (CIRP).

## Facts

Duskline Infrastructure Pvt. Ltd. was undergoing Corporate Insolvency Resolution Process (CIRP) under CP (IB) No. 1910/MB/2019. An application (IA No. 1947/2020) was filed for the revival of the company against its striking off by the RoC. Another application (IA No. 2261/2020) was filed under Section 12A of the I&B Code, 2016, for withdrawal of the CIRP. The Operational Creditor filed Form FA after the constitution of the CoC with the RP on 2020-11-25. The CoC approved the withdrawal of the company petition with 100% voting share in its meeting held on 2020-12-01. All payments were deposited with the RP, who distributed them. The RP's fees were also paid.

## Issues and analysis

### Issue 1: Whether the application for revival of the company against its striking off by the RoC can be …

**Ratio:** The I&B Code, 2016, does not provide a direct mechanism for the revival of a company

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**Reasoning:** The court stated that an order for revival of the company under the I&B Code, 2016,

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**Interpretation:** The I&B Code primarily deals with insolvency resolution and liquidation

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**Application:** Since the I&B Code does not provide a mechanism for revival, the

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## Parties

- **Judges:** Chandra Bha…; JANAB MОНАММED…
- **Respondents:** Duskline Infrastru…; Vertex Safety…

## Timeline

- **2020-11-25 — Form FA…**: The Operational Creditor filed Form FA with…
- **2020-12-01 — CoC Meet…**: The CoC approved the withdrawal of the…

## 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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