# In the matter of A.A Auctioneersn and Contractors Pvt. Ltd. IA 783-2023 in C.P. (IB)-336(MB)2020

> NCLT judgment dated 2023-03-02. Citation: TCN-2023-NCLT-04393. The case involves an application (IA-783/2023) filed by the Interim Resolution Professional…

- **Court:** NCLT
- **Order date:** 2 Mar 2023
- **Citation:** TCN-2023-NCLT-04393
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/aa-auctioneersn-and-contractors-pvt-ltd-ia-783-2023-in-cp-ib-336mb2020-c502e05c

## Summary

### Background

The case involves an application (IA-783/2023) filed by the Interim Resolution Professional (IRP) under Section 12A of the Insolvency and Bankruptcy Code (IBC) seeking withdrawal of the Corporate Insolvency Resolution Process (CIRP) initiated against Whiteland Engineering Technologies Pvt Ltd. The Company Petition C.P. (IB)/336(MB)2020 was admitted earlier, and CIRP was initiated vide order dated 27.01.2023. The IRP had published Form-A on 06.02.2023 for inviting claims, with the last date for submission being 17.02.2023.

## Facts

The Corporate Insolvency Resolution Process (CIRP) was initiated against Whiteland Engineering Technologies Pvt Ltd based on a Company Petition C.P. (IB)/336(MB)2020, admitted on 27.01.2023. Following the admission, the Interim Resolution Professional (IRP) published Form-A on 06.02.2023 to invite claims, setting 17.02.2023 as the last date for submission. However, the operational creditor subsequently paid the entire outstanding amount in full. As a result of the payment and the absence of any other claims, the Committee of Creditors (CoC) was not constituted. Consequently, the IRP filed IA-783/2023 under Section 12A of the IBC seeking withdrawal of the CIRP. The NCLT noted that neither the counsel nor the applicant/IRP was present during the hearing but perused the

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## Issues and analysis

### Issue 1: Whether the NCLT can allow the withdrawal of CIRP under Section 12A of the IBC before the …

**Ratio:** The Supreme Court in Swiss Ribbons Private Limited & Anr. Versus Union of India &

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**Reasoning:** The court reasoned that since the CoC was not constituted, the NCLT could directly

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**Interpretation:** This interprets Section 12A of the IBC and Rule 11 of the NCLT Rules, 2016, to

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**Application:** In this case, the CoC was not constituted because the operational creditor paid

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## Parties

- **Judges:** Prabhat…; KISHORE VEMULAPALL…
- **Respondents:** Whiteland…; A A Auctioneers…

## Timeline

- **2023-01-27 — CIRP Init…**: Company Petition C.P. (IB)/336(MB)2020…
- **2023-02-06 — Form-A Publ…**: Interim Resolution Professional (IRP)…

## 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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