# In the matter of Mor Mukat Marketing Pvt. Ltd. IA-3899-ND-2022 in IB-3017-ND-2019

> NCLT judgment dated 2022-08-17. Citation: TCN-2022-NCLT-01352. The case pertains to an application filed by the Interim Resolution Professional (IRP) for the…

- **Court:** NCLT
- **Order date:** 17 Aug 2022
- **Citation:** TCN-2022-NCLT-01352
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/mor-mukat-marketing-pvt-ltd-ia-3899-nd-2022-in-ib-3017-nd-2019-137118cb

## Summary

### Background

The case pertains to an application filed by the Interim Resolution Professional (IRP) for the withdrawal of Corporate Insolvency Resolution Process (CIRP) proceedings initiated under Section 12A of the Insolvency and Bankruptcy Code (IBC) in IB/3017/ND/2019. The IRP stated that the matter has been settled between the parties, and Form F-A has been placed on record confirming that Vishakarma Tool Works, the petitioner, wants to withdraw the petition. The IRP also confirmed receipt of all fees and costs.

## Facts

Vishakarma Tool Works initiated CIRP against Mor Mukat Marketing Pvt Ltd & Ors under IB/3017/ND/2019. The Interim Resolution Professional (IRP) filed IA/3889/ND/2022 seeking withdrawal of the CIRP proceedings under Section 12A of the Insolvency and Bankruptcy Code, 2016. The basis for the withdrawal was a settlement reached between Vishakarma Tool Works and Mor Mukat Marketing Pvt Ltd & Ors. The IRP confirmed that all fees and costs had been received. Form F-A was placed on record confirming the petitioner's intention to withdraw the petition. The key fact is the settlement between the parties, leading to the withdrawal application.

## Issues and analysis

### Issue 1: Whether the application for withdrawal of CIRP proceedings under Section 12A of the Insolvency and …

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

…

**Reasoning:** The court reasoned that since the parties had reached a settlement and the IRP had

…

**Interpretation:** Section 12A is interpreted to provide a mechanism for parties to resolve their

…

**Application:** In this case, the court applied Section 12A by allowing the withdrawal of the

…

## Parties

- **Judges:** DHARMINDER…; BINOD KUMAR…
- **Appellants:** Vishakarma Tool…
- **Respondents:** Mor Mukat…

## Timeline

- **2019-01-01 — CIRP Init…**: CIRP initiated under…
- **2022-01-01 — Application for…**: IA/3889/ND/2022 filed by the IRP for…

## 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)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/mor-mukat-marketing-pvt-ltd-ia-3899-nd-2022-in-ib-3017-nd-2019-137118cb