# In the matter of Bafna Health Care Pvt. Ltd. IA 1683-2022 IN C.P.(IB)-4105-(MB)2019

> NCLT judgment dated 2022-06-23. Citation: TCN-2022-NCLT-02091. The case involves IA-1683/2022 filed by the IRP/Applicant Sushant Sudhakar Yeola of the…

- **Court:** NCLT
- **Order date:** 23 Jun 2022
- **Citation:** TCN-2022-NCLT-02091
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/bafna-health-care-pvt-ltd-ia-1683-2022-in-cpib-4105-mb2019-e3d12844

## Summary

### Background

The case involves IA-1683/2022 filed by the IRP/Applicant Sushant Sudhakar Yeola of the Corporate Debtor under section 12-A of the Insolvency and Bankruptcy Code, 2016, read with Rule 11 of the NCLT Rules, 2016. The IRP informed the Bench that the parties have settled the matter for Rs. 9,40,000/-. The Operational Creditor's counsel confirmed receipt of the settlement amount and that the CIRP Admission Order fee of Rupees Two Lakhs has been paid to the IRP.

## Facts

Sushant Sudhakar Yeola, the IRP/Applicant of the Corporate Debtor, filed IA-1683/2022 under Section 12-A of the Insolvency and Bankruptcy Code, 2016, read with Rule 11 of the NCLT Rules, 2016. The IRP's counsel informed the court that the parties had reached a settlement of Rs. 9,40,000/-. The counsel for the Operational Creditor confirmed receiving the settlement amount and that the fee indicated in the CIRP Admission Order of Rupees Two Lakhs had been paid to the IRP. The court considered the submissions and averments and was satisfied that the matter could be withdrawn.

## Issues and analysis

### Issue 1: Whether IA-1683/2022 should be allowed based on …

**Ratio:** Section 12-A of the Insolvency and Bankruptcy Code, 2016, allows for the withdrawal of an

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**Reasoning:** The court considered the submissions of both sides and the contentions made in the

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

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**Application:** In this case, the IRP informed the court of the settlement, and the Operational

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## Parties

- **Judges:** Shyam Babu…; P.N. Des…
- **Appellants:** Sushant Sudhakar…
- **Respondents:** BAFNA Health Care…

## Timeline

- **2022-06-23 — Order Da…**: Order sheet of the hearing of Mumbai Bench…
- **2022-01-01 — Filing o…**: IA-1683/2022 filed by the…

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