# In the matter of BSR Superspeciality Hospitals Ltd.

> NCLT judgment dated 2024-02-26. Citation: TCN-2024-NCLT-02390. The case involves an Interlocutory Application (IA (IB) No. 47/CB/2024) filed in CP (IB) No.…

- **Court:** NCLT
- **Order date:** 26 Feb 2024
- **Citation:** TCN-2024-NCLT-02390
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/bsr-superspeciality-hospitals-ltd-aa9ebafe

## Summary

### Background

The case involves an Interlocutory Application (IA (IB) No. 47/CB/2024) filed in CP (IB) No. 34/CTB/2019 by the Interim Resolution Professional (IRP) under section 12A of the Insolvency and Bankruptcy Code, 2016, seeking to withdraw the CIRP process initiated against BSR Superspeciality Hospitals Ltd. The Operational Creditor had filed C.P (IB) No. 34/CTB/2019 against the Corporate Debtor under Section 9 of the IB Code, which was admitted on 03.1.2024. The IRP made a public announcement and received three claims. The applicant received communication from the operational creditor about withdrawing the petition due to a settlement between the parties.

## Facts

The Operational Creditor initiated CIRP against BSR Superspeciality Hospitals Ltd. by filing C.P (IB) No. 34/CTB/2019 under Section 9 of the IB Code. The petition was admitted on 03.1.2024, and Mr. Anuj Bajpai was appointed as Interim Resolution Professional (IRP). The IRP made a public announcement on 05.1.2024 and received three claims. Subsequently, the Operational Creditor communicated their intent to withdraw the petition due to a settlement with the Corporate Debtor. The Operational Creditor remitted Rs. 2,00,000/- to the IRP on January 16, 2024. The IRP then filed IA (IB) No. 47/CB/2024 under Section 12A of the IB Code to withdraw the CIRP. The IRP had received Rs. 2,00,000/- from the financial Creditor as advance in his bank account on 16.1.2024 and incurred

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## Issues and analysis

### Issue 1: Whether the Interlocutory Application (IA (IB) No. 47/CB/2024) for withdrawal of the CIRP process …

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

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**Reasoning:** The court reasoned that since the operational creditor and the corporate debtor had

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**Interpretation:** Section 12A provides a mechanism for withdrawing a CIRP application when a

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**Application:** In this case, the court applied Section 12A and Regulation 30A to the facts

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## Parties

- **Judges:** P. Moha…; KAUSHALENDRA…
- **Appellants:** Arvind Prasad…
- **Respondents:** BSR Superspecialit…

## Timeline

- **2019-01-01 — Filing of C.P (IB) No.…**: The Operational Creditor filed C.P (IB) No. 34/CTB/2019 against the Corporate Debtor…
- **2024-01-03 — Admission of C.P (IB)…**: The petition was admitted by the Bench, and Mr. Anuj Bajpai was appointed as Interim…

## 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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