# In the matter of Robotics Infratech Pvt. Ltd. IA(I.B.C)-787(KB)2022 in C.P. (IB)-520(KB)2019

> NCLT judgment dated 2022-08-05. Citation: TCN-2022-NCLT-01435. The case involves an application filed by the Interim Resolution Professional (IRP) under…

- **Court:** NCLT
- **Order date:** 5 Aug 2022
- **Citation:** TCN-2022-NCLT-01435
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/robotics-infratech-pvt-ltd-iaibc-787kb2022-in-cp-ib-520kb2019-5ab7f069

## Summary

### Background

The case involves an application filed by the Interim Resolution Professional (IRP) under Section 12A of the Insolvency and Bankruptcy Code (IBC), read with regulation 30A(1)(a) of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, seeking withdrawal of the Corporate Insolvency Resolution Process (CIRP). The matter was reportedly settled amicably between the Operational Creditor and the Corporate Debtor. The IRP submitted that Form FA dated 29/04/2022 was received from the Operational Creditor, and no Committee of Creditors (CoC) was formed. The IRP also confirmed that his fees and CIRP costs have been paid in full by the petitioning Operational Creditor.

## Facts

The Interim Resolution Professional (IRP) filed an application under Section 12A of the Insolvency and Bankruptcy Code (IBC) seeking withdrawal of the Corporate Insolvency Resolution Process (CIRP). The application was based on a settlement reached amicably between the Operational Creditor and the Corporate Debtor. Form FA dated 29/04/2022 was submitted by the Operational Creditor. No Committee of Creditors (CoC) was formed in this case. The IRP confirmed that his fees and CIRP costs were fully paid by the Operational Creditor. The CIRP had been initiated against the Corporate Debtor vide order dated 25/02/2020. The key fact is the amicable settlement between the parties before the formation of a CoC, which influenced the court's decision to allow the withdrawal of the

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## Issues and analysis

### Issue 1: Whether the Adjudicating Authority can allow the withdrawal of a Company Petition under Section 12A …

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

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**Reasoning:** The court reasoned that since no CoC was constituted, the requirement of obtaining 90%

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**Interpretation:** The court interpreted Section 12A flexibly, acknowledging that the absence of a

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**Application:** In this specific case, the court applied the principle that the absence of a

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## Parties

- **Judges:** RohitKa…; Balraj…
- **Appellants:** COMMET RESOURCES…
- **Respondents:** ROBOTICS INFRATECH…

## Timeline

- **2020-02-25 — CIRP Init…**: CIRP initiated against the Corporate…
- **2022-04-29 — Form FA Re…**: Form FA dated 29/04/2022 received…

## 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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