# In the matter of Rajasthan Urban Drinking Water Sewerage and Infrastructure Corporation Ltd. {IA No. 440-JPR-2023 in CP No. (IB)-78-9-JPR-2020]

> NCLT judgment dated 2023-08-09. Citation: TCN-2023-NCLT-02116. The case involves an application under Section 12A of the Insolvency and Bankruptcy Code (IBC),…

- **Court:** NCLT
- **Order date:** 9 Aug 2023
- **Citation:** TCN-2023-NCLT-02116
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/rajasthan-urban-drinking-water-sewerage-and-infrastructure-corporation-ltd-ia-no-a102963d

## Summary

### Background

The case involves an application under Section 12A of the Insolvency and Bankruptcy Code (IBC), 2016, read with Regulation 30A of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, for the withdrawal of Corporate Insolvency Resolution Process (CIRP) initiated via CP No. (IB)-78/9/JPR/2020.

## Facts

M/s Teen Murti Construction Pvt. Ltd., the Operational Creditor/Applicant, initiated a Corporate Insolvency Resolution Process (CIRP) against M/s Rajasthan Urban Drinking Water Sewerage and infrastructure and corporation Ltd. & Ors., the Corporate Debtor/Respondent, by filing CP No. (IB)-78/9/JPR/2020 under Section 9 of the IBC, 2016. Subsequently, an application (IA No. 440/JPR/2023) was filed under Section 12A of the IBC, 2016, read with Regulation 30A of the IBBI Regulations, 2016, seeking the withdrawal of the CIRP. Mr. Vikram Singh Rathore, the IRP, was present in person. The relevance of these facts lies in the procedural steps taken under the IBC for initiating and subsequently seeking to withdraw a CIRP.

## Issues and analysis

### Issue 1: Whether the application for withdrawal of CP No. (IB)-78/9/JPR/2020 under Section 12A of the IBC, …

**Ratio:** Section 12A of the IBC, 2016, allows for the withdrawal of an application admitted under

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**Reasoning:** The court considered the application filed under Section 12A of the IBC, 2016, read with

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

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**Application:** In this case, the application for withdrawal was made under Section 12A, and

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## Parties

- **Judges:** Deep Chandr…; ATUL CHAT…
- **Appellants:** M/s Teen Murti…
- **Respondents:** M/s Rajasthan…

## Timeline

- **2020-01-01 — CIRP Init…**: CP No. (IB)-78/9/JPR/2020 filed…
- **2023-01-01 — Withdrawal App…**: IA No. 440/JPR/2023 filed under Section 12A of IBC, 2016, read with Regulation 30A of…

## 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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