# In the matter of Unique Kitchen-Aids Pvt. Ltd.

> NCLT judgment dated 2024-04-23. Citation: TCN-2024-NCLT-01636. The Resolution Professional filed an application under Section 12A of the IBC, 2016, seeking to…

- **Court:** NCLT
- **Order date:** 23 Apr 2024
- **Citation:** TCN-2024-NCLT-01636
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/unique-kitchen-aids-pvt-ltd-eb7b52b7

## Summary

### Background

The Resolution Professional filed an application under Section 12A of the IBC, 2016, seeking to withdraw the Section 9 Petition after the Committee of Creditors (CoC) passed a resolution with 100% voting for withdrawal, and the matter was settled between the parties outside of court.

## Facts

The Resolution Professional filed an application, New IA/1747/2024, under Section 12A of the Insolvency and Bankruptcy Code, 2016, read with Regulation 30A of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. This application sought the withdrawal of the Section 9 Petition, IB-2826/ND/2019, which had initiated the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor. CIRP was initiated against the Corporate Debtor by an order dated December 21, 2021, and an Interim Resolution Professional (IRP) was appointed. The IRP subsequently made an announcement on December 26, 2021, by publishing Form A, inviting claims from creditors. Only one claim was received, from the Operational Creditor who had filed the Section 9

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## Issues and analysis

### Issue 1: Whether the Resolution Professional's application for withdrawal of the Section 9 Petition, …

**Ratio:** An application for withdrawal of a Section 9 Petition can be allowed if the Committee of

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**Reasoning:** The NCLT found that the CoC had passed a resolution with 100% voting for the withdrawal

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**Interpretation:** The court interpreted **Section 12A** of the IBC and **Regulation 30A** of the

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**Application:** Given the 100% voting by the CoC for withdrawal and the out-of-court

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## Parties

- **Judges:** MAHENDRA KHANDELWA…; Sanjeev R…
- **Appellants:** Aekevi Industries…
- **Respondents:** Unique Kitchen-Aid…
- **Advocates:** Anand Kumar…; For the RP: Mr.…; +2 more

## Timeline

- **December 21, 2021 — CIRP Init…**: CIRP was initiated against the Corporate Debtor, and an Interim Resolution Professional…
- **December 26, 2021 — Form A Publ…**: The IRP made an announcement by publishing…

## 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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