# In the matter of AGFA Healthcare India Pvt. Ltd. IA 1729-2022-New Application in C.P.(IB)-2412(MB)2018

> NCLT judgment dated 2022-06-28. Citation: TCN-2022-NCLT-02014. The case involves an application for withdrawal of a Section 9 petition filed by the…

- **Court:** NCLT
- **Order date:** 28 Jun 2022
- **Citation:** TCN-2022-NCLT-02014
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/agfa-healthcare-india-pvt-ltd-ia-1729-2022-new-application-in-cpib-2412mb2018-8b4e581e

## Summary

### Background

The case involves an application for withdrawal of a Section 9 petition filed by the Operational Creditor under the Insolvency and Bankruptcy Code, 2016. The Corporate Debtor approached the Operational Creditor, and they amicably settled the matter, agreeing on terms for withdrawal of the company petition for a sum of Rs. 45,00,000/- as full and final settlement including litigation charges.

## Facts

Jitendra Kothari (Operational Creditor) filed a Section 9 petition against Agfa Healthcare India Pvt Ltd (Corporate Debtor) under the Insolvency and Bankruptcy Code, 2016. Subsequently, the Corporate Debtor approached the Operational Creditor, and they reached a settlement agreement. As per the agreement, the Corporate Debtor agreed to pay Rs. 45,00,000/- to the Operational Creditor as full and final settlement, including litigation charges, in exchange for the withdrawal of the Section 9 petition. The Applicant/RP filed IA-1729/2022 under Section 12-A of the Insolvency and Bankruptcy Code, 2016, read with Regulation 30-A of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, seeking withdrawal of the

…

## Issues and analysis

### Issue 1: Whether the withdrawal of the Section 9 petition filed by the Operational Creditor can be allowed …

**Ratio:** Section 12A of the Insolvency and Bankruptcy Code, 2016, read with Regulation 30-A of the

…

**Reasoning:** The court considered the submissions of the counsel appearing for the parties and perused

…

**Interpretation:** Section 12A provides a mechanism for parties to settle disputes and withdraw

…

**Application:** In this case, the Corporate Debtor and the Operational Creditor reached a

…

## Parties

- **Judges:** Shyam Babu…; P.N. Des…
- **Appellants:** Jitendra K…
- **Respondents:** AGFA Healthcare…
- **Advocates:** Hasnain…; Shraddha…; +2 more

## Timeline

- **2022-06-28 — Order Da…**: Order sheet of the hearing of Mumbai Bench…
- **2022-01-01 — IA-1729/2022…**: IA-1729/2022 filed by the Applicant/RP under section 12-A of the Insolvency and…

## 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)

---

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-division-bench-court-i-chenn/agfa-healthcare-india-pvt-ltd-ia-1729-2022-new-application-in-cpib-2412mb2018-8b4e581e