# In the matter of Himalayan Equipment Manufacturing Company Pvt. Ltd.

> NCLT judgment dated 2023-12-06. Citation: TCN-2023-NCLT-00411. IA No.544/2023 was filed in CP (IB) No.357/ALD/2019. The application was filed by the IRP under…

- **Court:** NCLT
- **Order date:** 6 Dec 2023
- **Citation:** TCN-2023-NCLT-00411
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/himalayan-equipment-manufacturing-company-pvt-ltd-c3af741a

## Summary

### Background

IA No.544/2023 was filed in CP (IB) No.357/ALD/2019. The application was filed by the IRP under Section 12A of the Code seeking to withdraw the main petition. The IRP's counsel stated that the entire CIRP cost, including fees, has been paid, and there is no impediment to allowing the application. Form FA was attached as Annexure-2 at page 13 of the application.

## Facts

An application, IA No.544/2023, was filed in connection with CP (IB) No.357/ALD/2019. The Interim Resolution Professional (IRP) filed the application under Section 12A of the Insolvency and Bankruptcy Code (IBC) seeking to withdraw the main petition. The IRP's counsel, Sh. Abhishek Garg, stated that all Corporate Insolvency Resolution Process (CIRP) costs, including fees, had been paid, and there were no impediments to allowing the application. Form FA, relevant to the application, was attached as Annexure-2 at page 13. The court considered the averments in the application and the IRP's statement regarding the payment of CIRP costs.

## Issues and analysis

### Issue 1: Whether the application for withdrawal of the main petition under Section 12A of the IBC should be …

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

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**Reasoning:** The court considered the IRP's submission that all CIRP costs had been paid and that

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**Interpretation:** Section 12A provides a mechanism for withdrawal of insolvency proceedings if

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

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## Parties

- **Judges:** Praveen…; Ashish…
- **Appellants:** ELAN PROFESSIONAL…
- **Respondents:** HIMALAYAN…

## Timeline

- **2023-12-06 — Order Da…**: The order was passed on December 6th, 2023, allowing the withdrawal of the main petition…

## 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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