# In the matter of Amaravati Apartments & Villas India Pvt. Ltd. IA (IBC)-65 & 126-2023 in CP (IB) No.122-9-HDB-2020

> NCLT judgment dated 2023-02-02. Citation: TCN-2023-NCLT-04808. The document pertains to two applications, IA(IBC)126/2023 and IA(IBC)65/2023, filed in…

- **Court:** NCLT
- **Order date:** 2 Feb 2023
- **Citation:** TCN-2023-NCLT-04808
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/amaravati-apartments-villas-india-pvt-ltd-ia-ibc-65-126-2023-in-cp-ib-no122-9-hd-fdbd6a67

## Summary

### Background

The document pertains to two applications, IA(IBC)126/2023 and IA(IBC)65/2023, filed in relation to CP (IB) No.122/9/HDB/2020. IA(IBC)126/2023 was filed by the Resolution Professional (RP) seeking to take the constitution of the Committee of Creditors (COC) report on record. IA(IBC)65/2023 was filed by the Interim Resolution Professional (IRP) under Section 12A of the Insolvency and Bankruptcy Code (IBC), 2016, read with Regulation 30A of the Insolvency and Bankruptcy Board of India (IBBI) (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, seeking to withdraw CP. No. 122/9/HDB/2020, which was admitted by the tribunal on 2022-12-15.

## Facts

Amaravathi Apartments & Villas India Pvt Ltd is the company involved in the Corporate Insolvency Resolution Process (CIRP). CP No. 122/9/HDB/2020 was admitted by the tribunal on 2022-12-15. Robo Sillicon Pvt Ltd is the petitioner. The Interim Resolution Professional (IRP) filed IA(IBC)65/2023 under Section 12A of the IBC, seeking to withdraw CP No. 122/9/HDB/2020, stating that the parties had settled the matter. The Resolution Professional (RP) filed IA(IBC)126/2023 seeking to take the constitution of the COC report on record. According to Section 12A, the Adjudicating Authority may allow the withdrawal of an application admitted under Section 7, 9, or 10, on an application made by the applicant with the approval of 90% voting share of the Committee of Creditors (CoC).

## Issues and analysis

### Issue 1: Whether the application IA(IBC)65/2023 for withdrawal of CP No. 122/9/HDB/2020 under Section 12A of …

**Ratio:** Section 12A of the IBC allows the Adjudicating Authority to permit withdrawal of an

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**Reasoning:** The court reasoned that since the parties had compromised and the application was filed

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**Interpretation:** Section 12A provides a mechanism for withdrawal of CIRP applications when the

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**Application:** The court applied Section 12A to the facts of the case, noting that the parties

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## Parties

- **Judges:** TELAPROLU…; SH. CHARAN…
- **Appellants:** Robo Sillicon Pvt…
- **Respondents:** Amaravathi…

## Timeline

- **2020-01-01 — CP (IB)…**: CP (IB) No.122/9/HDB/202…
- **2022-12-15 — CP (IB) Ad…**: CP (IB) No.122/9/HDB/2020 was…

## 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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