# In the matter of K & A Propcon LLP Ivn. P. 05-JPR-2021, IA No. 436-JPR-2021 in CP No. (IB)-31-10-JPR-2021

> NCLT judgment dated 2022-04-26. Citation: TCN-2022-NCLT-03054. The case involves an application for withdrawal of a Company Application submitted under…

- **Court:** NCLT
- **Order date:** 26 Apr 2022
- **Citation:** TCN-2022-NCLT-03054
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/k-a-propcon-llp-ivn-p-05-jpr-2021-ia-no-436-jpr-2021-in-cp-no-ib-31-10-jpr-2021-02bb9b53

## Summary

### Background

The case involves an application for withdrawal of a Company Application submitted under Section 10 of the Insolvency and Bankruptcy Code, 2016, and Rule 7 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, and NCLT Rules 2016. The applicant seeks permission to withdraw the application.

## Facts

K & A Propcon LLP filed a Company Application under Section 10 of the Insolvency and Bankruptcy Code, 2016. The applicant, represented by Mr. Brij Kishor Sharma PCS, sought to withdraw the application. Mr. Shivangshu Naval Adv. and Ms. Akanksha Naval Adv., appearing for the interveners, had no objection to the withdrawal. The NCLT, Jaipur Bench, presided over by Hon'ble Mr. Deep Chandra Joshi (Judicial Member) and Hon'ble Mr. Raghu Nayyar (Technical Member), considered the application for withdrawal. CP No. (IB)- 31/10/JPR/2021 was related to this matter, as was Ivn. P No. 05/JPR/2021. The application for withdrawal was granted, leading to the dismissal of the CP No. and the disposal of the Ivn. P No. as infructuous.

## Issues and analysis

### Issue 1: Whether the application for withdrawal of the Company Application under Section 10 of the …

**Ratio:** An applicant is generally permitted to withdraw an application if no objections are

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**Reasoning:** The court reasoned that since the applicant sought withdrawal and the interveners had no

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**Interpretation:** The interpretation of Section 10 of the IBC, 2016, allows for withdrawal of

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**Application:** In this specific case, the applicant's request to withdraw the application,

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## Parties

- **Judges:** Deep Chandr…; RaghuNa…
- **Appellants:** K & A Propc…
- **Advocates:** Brij Kishor…; Shivangshu Naval…; +1 more

## Timeline

- **N/A — Company Application…**: K & A Propcon LLP filed a Company Application under Section 10 of the Insolvency and…
- **N/A — Application for…**: The applicant sought permission to…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 10 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-10)

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