# In the matter of Arav Healthcare Infra Pvt. Ltd.

> NCLT judgment dated 2023-07-27. Citation: TCN-2023-NCLT-02318. The case involves an application (IA-3215/2023) filed under Regulation 30(A) of the IBBI…

- **Court:** NCLT
- **Order date:** 27 Jul 2023
- **Citation:** TCN-2023-NCLT-02318
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/arav-healthcare-infra-pvt-ltd-02ba7ba2

## Summary

### Background

The case involves an application (IA-3215/2023) filed under Regulation 30(A) of the IBBI Regulations, 2016 r/w Section 12A of the IBC, 2016, seeking withdrawal of a Company Petition [C.P.(IB)/4610/MB-IV/2019]. The original Company Petition was filed under Section 9 of the IBC and admitted on 24.02.2023, initiating the Corporate Insolvency Resolution Process (CIRP) and imposing a moratorium. An Interim Resolution Professional (IRP) was appointed for the Corporate Debtor.

## Facts

A Company Petition [C.P.(IB)/4610/MB-IV/2019] was filed under Section 9 of the Insolvency and Bankruptcy Code (IBC) and admitted on 24.02.2023, initiating the Corporate Insolvency Resolution Process (CIRP) for the Corporate Debtor. An Interim Resolution Professional (IRP) was appointed. Following the admission, the IRP made a public announcement on 26.02.2023, inviting claims against the Corporate Debtor. The Committee of Creditors (CoC) was constituted. The Operational Creditor and the Corporate Debtor reached a settlement of INR 9,00,000/- via Demand Draft. The Operational Creditor communicated their intent to withdraw the case on 20.06.2023. The CoC passed a resolution with 100% vote on 24.06.2023, allowing the withdrawal of CIRP. Form FA, seeking withdrawal, was

…

## Issues and analysis

### Issue 1: Whether the application for withdrawal of the CIRP under Section 12A of the IBC should be allowed, …

**Ratio:** Section 12A of the IBC allows for the withdrawal of an application admitted under Section

…

**Reasoning:** The court reasoned that the CoC had approved the withdrawal with a 100% vote, indicating

…

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

…

**Application:** In this case, the CoC approved the withdrawal with a 100% vote, the Operational

…

## Parties

- **Judges:** Prabhat…; KISHORE VEMULAPALL…
- **Appellants:** Erbe Medical…
- **Respondents:** Arav Healthcare…

## Timeline

- **2019-01-01 — Company Petiti…**: Company Petition…
- **2023-02-24 — Admission of Company…**: Company Petition admitted,…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

---

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/arav-healthcare-infra-pvt-ltd-02ba7ba2