# In the matter of Radius Sumer Developers Private Limited

> NCLT judgment dated 2025-04-08. Citation: TCN-2025-NCLT-00227. The case involves an application filed under Section 12-A of the Insolvency and Bankruptcy Code…

- **Court:** NCLT
- **Order date:** 8 Apr 2025
- **Citation:** TCN-2025-NCLT-00227
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/radius-sumer-developers-private-limited-36688565

## Summary

### Background

The case involves an application filed under Section 12-A of the Insolvency and Bankruptcy Code (IBC), 2016, seeking the withdrawal of a Corporate Insolvency Resolution Process (CIRP). The Corporate Debtor, Capacite Infraprojects Limited, was admitted to CIRP on 2025-03-18. The Interim Resolution Professional (IRP) received Form-FA from the Operational Creditor, Radius Sumer Developers Pvt Ltd, indicating settlement. The Committee of Creditors (COC) had not been formed yet.

## Facts

Capacite Infraprojects Ltd. was undergoing CIRP, initiated by Radius Sumer Developers Pvt Ltd. The CIRP was initiated on 2025-03-18. An application was filed under Section 12-A of the IBC seeking withdrawal of the CIRP. The IRP received Form-FA from the Operational Creditor, Radius Sumer Developers Pvt Ltd, indicating settlement of dues. The Operational Creditor confirmed receiving the entire consideration through allotment of flats. The COC had not been formed. The application for withdrawal was based on the settlement of dues between the Corporate Debtor and the Operational Creditor.

## Issues and analysis

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

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

…

**Reasoning:** The court reasoned that the IRP had received the entire dues, and the Operational

…

**Interpretation:** Section 12A provides a mechanism for settling disputes and withdrawing CIRP if

…

**Application:** In this case, the IRP confirmed the receipt of dues, and the Operational

…

## Parties

- **Judges:** SAMEER…; NILESH S…
- **Appellants:** Capacite Infraproj…
- **Respondents:** Capacite Infraproj…; Radius Sumer…

## Timeline

- **2025-03-18 — Admission t…**: The Corporate Debtor…
- **2025-03-26 — Form-FA Re…**: The IRP received Form-FA from…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 12 — Time-limit for completion of insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-12)

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