# In the matter of RNV Hospitality Services Pvt. Ltd.

> NCLT judgment dated 2023-12-15. Citation: TCN-2023-NCLT-00205. The case involves an application (IA No.635/2023) filed in connection with a corporate…

- **Court:** NCLT
- **Order date:** 15 Dec 2023
- **Citation:** TCN-2023-NCLT-00205
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/rnv-hospitality-services-pvt-ltd-10640c88

## Summary

### Background

The case involves an application (IA No.635/2023) filed in connection with a corporate insolvency resolution process (CIRP) under CP (IB) No.489/ALD/2019. The Resolution Professional (RP) sought withdrawal of the main petition under Section 12A of the Insolvency and Bankruptcy Code (IBC).

## Facts

The Resolution Professional (RP) filed an application (IA No.635/2023) under Section 12A of the Insolvency and Bankruptcy Code (IBC) seeking withdrawal of the main insolvency petition (CP (IB) No.489/ALD/2019). The Committee of Creditors (CoC) had approved the withdrawal in a meeting held on November 23, 2023, with a 100% voting majority. The RP stated that a cheque had been issued for the CIRP costs, although it was yet to be deposited. The application for withdrawal was based on the CoC's decision and the RP's averments.

## Issues and analysis

### Issue 1: Whether the application for withdrawal of the main insolvency petition (CP (IB) No.489/ALD/2019) …

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

…

**Reasoning:** The court reasoned that the CoC had approved the withdrawal with a 100% voting majority,

…

**Interpretation:** Section 12A provides a mechanism for withdrawing an insolvency application if

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**Application:** In this case, the CoC's approval with 100% voting share, coupled with the RP's

…

## Parties

- **Judges:** Praveen…; Ashish…
- **Respondents:** Pallia Tra…

## Timeline

- **2023-11-23 — CoC Meet…**: The Committee of Creditors (CoC) held a meeting and passed a resolution with 100% voting…
- **2023-12-15 — Order Da…**: The court passed an order allowing the application for withdrawal (IA No.635/2023) and…

## 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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