# In the matter of Vyom Infrastructures & Projects Pvt. Ltd. (IB)-891(PB)-2018

> NCLT judgment dated 2020-06-09. Citation: TCN-2020-NCLT-01219. The financial creditor filed an application for withdrawal of the Company Petition, supported…

- **Court:** NCLT
- **Order date:** 9 Jun 2020
- **Citation:** TCN-2020-NCLT-01219
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/vyom-infrastructures-projects-pvt-ltd-ib-891pb-2018-977a55a6

## Summary

### Background

The financial creditor filed an application for withdrawal of the Company Petition, supported by a resolution from the Committee of Creditors.

## Facts

The financial creditor, Kapil Arora, filed a Company Petition, (IB)-891(PB)/2018, against Vyom Infrastructure & Projects Pvt. Ltd. under Section 7 of the Insolvency & Bankruptcy Code, 2016, initiating the Corporate Insolvency Resolution Process ( CIRP ). This petition sought to address the default committed by the corporate debtor. Subsequently, the financial creditor filed an application, IA-2167/2020, seeking to withdraw the Company Petition. This application was supported by a resolution passed by the Committee of Creditors (CoC) on December 4, 2020, which indicated a 100% voting share in favor of the withdrawal. The application for withdrawal was made under Section 12A of the Insolvency and Bankruptcy Code, 2016.

## Issues and analysis

### Issue 1: Whether the application for withdrawal of the Company Petition, supported by a 100% voting share …

**Ratio:** An application for withdrawal of a Company Petition under Section 12A of the Insolvency

…

**Reasoning:** The NCLT noted that the application for withdrawal was filed by the financial creditor

…

**Interpretation:** The court interpreted **Section 12A** of the Insolvency and Bankruptcy Code,

…

**Application:** Given that the financial creditor filed the application for withdrawal and the

…

## Parties

- **Judges:** B.S.V. Prakash…; HEMANT KUMAR…
- **Appellants:** Kapil A…
- **Respondents:** Vyom Infrastructur…
- **Advocates:** Prachi…; Hitesh…; +7 more

## Timeline

- **December 4, 2020 — CoC Resolution for…**: The Committee of Creditors passed a resolution with 100% voting share for the withdrawal…
- **June 9, 2020 — Order Del…**: The NCLT delivered the order allowing the withdrawal application and dismissing the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-chandigarh/vyom-infrastructures-projects-pvt-ltd-ib-891pb-2018-977a55a6