# In the matter of Logistics Linkage India Private Limited IA-2792 & 2924-2022 in (IB)-353(ND)2020

> NCLT judgment dated 2022-07-06. Citation: TCN-2022-NCLT-01844. The case involves an application under Section 12A of the Insolvency and Bankruptcy Code (IBC).…

- **Court:** NCLT
- **Order date:** 6 Jul 2022
- **Citation:** TCN-2022-NCLT-01844
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/logistics-linkage-india-private-limited-ia-2792-2924-2022-in-ib-353nd2020-556503d7

## Summary

### Background

The case involves an application under Section 12A of the Insolvency and Bankruptcy Code (IBC). The applicant stated that the matter has been settled between the parties. The Committee of Creditors (CoC) has not been constituted. The Counsel for the Corporate Debtor has also appeared. The Interim Resolution Professional (IRP) has appeared and pleaded for withdrawal of the main application.

## Facts

M/s. TCI International Logistics GMBH filed an application against M/s. Logistic Linkage India Private Limited under Section 9 of the IBC, 2016. The applicant stated that the matter has been settled between the parties. The CoC has not been constituted. Mr. Dubey, Ld. Counsel for the Corporate Debtor, appeared. Mr. Ashok, the IRP, appeared and pleaded for withdrawal of the main application. Form-FA is on record. All dues of the IRP have been paid. IA-2924/ND/2022 was filed for an urgent hearing of IA2792/2022.

## Issues and analysis

### Issue 1: Whether the withdrawal of the insolvency application IB-353/ND/2020 should be allowed given the …

**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 applicant's statement that the matter has been settled between

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

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**Application:** Given the settlement and payment of dues, the court applied Section 12A to

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## Parties

- **Judges:** SHRI. DHARMINDER…; SHRI. L. N.…
- **Appellants:** M/s. TCI Internati…
- **Respondents:** M/s. Logistic…

## Timeline

- **N/A — Application under…**: IA-2792/2022 was moved…
- **N/A — Settlement between…**: Counsel for the applicant stated that the…

## 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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