# In the matter of Annapurna Broadcasting Private Limited IA No.241 of 2022 in CP (IB) No.86-9-AMR-2022

> NCLT judgment dated 2022-10-10. Citation: TCN-2022-NCLT-00793. The case involves an application filed by Dheemahi Productions, the Applicant/Operational…

- **Court:** NCLT
- **Order date:** 10 Oct 2022
- **Citation:** TCN-2022-NCLT-00793
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/annapurna-broadcasting-private-limited-ia-no241-of-2022-in-cp-ib-no86-9-amr-2022-9c545fa7

## Summary

### Background

The case involves an application filed by Dheemahi Productions, the Applicant/Operational Creditor, under Section 12A of the Insolvency and Bankruptcy Code, 2016, read with Regulation 30A of the IBBI (Corporate Insolvency Resolution Process) Regulations, 2016, seeking to withdraw the Corporate Insolvency Resolution Process (CIRP) initiated against Annapurna Broadcasting Private Limited. The initial Corporate Insolvency Petition (CP(IB) No. 86/9/AMR/2022) was admitted by the Tribunal on 27.09.2022. The application for withdrawal, IA(IBC)/241/2022, was filed.

## Facts

Dheemahi Productions initiated Corporate Insolvency Resolution Process (CIRP) against Annapurna Broadcasting Private Limited by filing CP(IB) No. 86/9/AMR/2022, which was admitted on 2022-09-27. Subsequently, Dheemahi Productions filed IA(IBC)/241/2022 under Section 12A of the Insolvency and Bankruptcy Code, 2016, seeking to withdraw the CIRP. The Interim Resolution Professional (IRP) confirmed that complete fees had been received and Form-FA was filed. The application was filed before the constitution of the Committee of Creditors (CoC). The key fact is that the application for withdrawal was made before the CoC was formed, which is relevant because Regulation 30A(1)(a) of the IBC (CIRP) Regulations, 2016, permits such applications.

## Issues and analysis

### Issue 1: Whether the application for withdrawal of the Corporate Insolvency Resolution Process (CIRP) under …

**Ratio:** Regulation 30A(1)(a) of the IBBI (Corporate Insolvency Resolution Process) Regulations,

…

**Reasoning:** The court reasoned that while Section 12A generally requires a 99% voting share approval

…

**Interpretation:** Section 12A of the IBC is interpreted in conjunction with Regulation 30A of the

…

**Application:** In this case, the application for withdrawal (IA(IBC)/241/2022) was filed

…

## Parties

- **Judges:** TELAPROLU…
- **Appellants:** Dheemahi Productio…
- **Respondents:** Annapurna…

## Timeline

- **2022-09-27 — Admission of CP(IB) No.…**: The Tribunal admitted the Corporate Insolvency Petition (CP(IB) No. 86/9/AMR/2022) filed…
- **2022-10-10 — Order on IA(IBC)/241/202…**: The NCLT Amaravati Bench allowed IA(IBC)/241/2022, the application for 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)

---

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/annapurna-broadcasting-private-limited-ia-no241-of-2022-in-cp-ib-no86-9-amr-2022-9c545fa7