# In the matter of OSSL Agri Logistics Pvt Ltd

> NCLT judgment dated 2026-01-15. Citation: TCN-2026-NCLT-00109. The applicant filed an application under Section 12A of the Insolvency and Bankruptcy Code,…

- **Court:** NCLT
- **Order date:** 15 Jan 2026
- **Citation:** TCN-2026-NCLT-00109
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-indore/ossl-agri-logistics-pvt-ltd-86afe818

## Summary

### Background

The applicant filed an application under Section 12A of the Insolvency and Bankruptcy Code, 2016, read with Regulation 30A of the Insolvency and Bankruptcy Board of India Corporate (Insolvency Resolution Process for Persons) Regulations, 2016, seeking permission to withdraw the CIRP initiated against the Corporate Debtor.

## Facts

The application was filed under Section 12A of the Insolvency and Bankruptcy Code, 2016.

The Corporate Debtor was admitted into CIRP vide order dated 09.10.2025.

Diptab Ventures Pvt Ltd, the Operational Creditor, filed the application under Section 9 of the IBC.

The CoC, consisting solely of Diptab Ventures Pvt. Ltd., resolved to withdraw the CIRP with 100% voting share.

Form-FA, under Regulation 30A, was provided by the Operational Creditor to the Interim Resolution Professional.

The IRP confirmed that all CIRP costs and fees have been duly paid.

The CoC passed a resolution dated 03.01.2026 to withdraw the CIRP.

## Issues and analysis

### Issue 1: Whether the application for withdrawal of CIRP under Section 12A of the Insolvency and Bankruptcy …

**Ratio:** Section 12A of the IBC read with Regulation 30A of the Insolvency and Bankruptcy Board of

…

**Reasoning:** The CoC passed a 100% resolution to withdraw the CIRP, and the procedural requirements

…

**Interpretation:** Section 12A allows for the withdrawal of CIRP with the approval of the

…

**Application:** The Tribunal, considering the CoC's resolution and compliance with procedural

…

## Parties

- **Judges:** Brajendra Mani…; Man Mohan…
- **Appellants:** Mangesh Vitthal…
- **Other parties:** Diptab Ventures…; Mangesh Vithal…
- **Advocates:** Sake…; Ayushi Pa…

## Timeline

- **2025-10-09 — Order Da…**: Order passed by the Tribunal initiating…
- **2026-01-03 — CoC Meet…**: The 3rd meeting of the CoC was held, wherein the sole CoC member, namely Diptab Ventures…

## 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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