# Resipol Adhesives Pvt. Ltd vs. Status Seramik India Pvt. Ltd

> NCLT judgment dated 17 Mar 2026. Citation: TCN-2026-NCLT-00337. An application was filed by Resipol Adhesives Pvt. Ltd (Operational Creditor/Applicant) under…

- **Court:** NCLT
- **Order date:** 17 Mar 2026
- **Citation:** TCN-2026-NCLT-00337
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-kolkata/resipol-adhesives-pvt-ltd-vs-status-seramik-india-pvt-ltd-aqnc3

## Summary

### Background

An application was filed by Resipol Adhesives Pvt. Ltd (Operational Creditor/Applicant) under Section 12A of the Insolvency and Bankruptcy Code, 2016, along with Regulation 30A (1) of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. The application sought the withdrawal of the Corporate Insolvency Resolution Process (CIRP) that had been initiated against Status Seramik India Pvt. Ltd (Corporate Debtor) by an order dated 25.02.2026. This withdrawal request was a consequence of a settlement agreement executed on 09.03.2026 between Mr. Manan Hareshbhai Patel, a shareholder of Status Seramik India Pvt. Ltd, and Resipol Adhesives Pvt. Ltd, which fully settled the outstanding debt. Following the settlement, the Operational Creditor submitted

…

## Facts

An application (IA/417(AHM)2026) was filed under Section 12A of the IBC, 2016, with Regulation 30A (1) for withdrawal of the CIRP.

The Corporate Insolvency Resolution Process (CIRP) was initiated against Status Seramik India Pvt. Ltd by an order dated 25.02.2026.

A settlement agreement was executed on 09.03.2026 between Mr. Manan Hareshbhai Patel (shareholder of Corporate Debtor) and M/s. Resipol Adhesives Pvt. Ltd (Operational Creditor), settling the outstanding debt.

The Operational Creditor submitted Form FA on 10.03.2026 (received by IRP on 11.03.2026) seeking withdrawal under Regulation 30A.

A public announcement regarding the CIRP was made on 27.02.2026 in 'The Indian Express' and 'Sandesh', inviting claims from creditors.

…

## Issues and analysis

### Issue 1: Whether the application for withdrawal of the Corporate Insolvency Resolution Process (CIRP) …

**Ratio:** Section 12A of the Insolvency and Bankruptcy Code, 2016, read with Regulation 30A (1) of

…

**Reasoning:** The Tribunal acknowledged that a settlement agreement dated 09.03.2026 was executed

…

**Interpretation:** Section 12A and Regulation 30A are interpreted to facilitate the resolution of

…

**Application:** In the present case, the Operational Creditor (Resipol Adhesives Pvt. Ltd) and

…

## Parties

- **Judges:** SHAMMI…; Member…; +2 more
- **Appellants:** Resipol Adhesives…
- **Respondents:** Status Seramik…; Status Seramik…
- **Other parties:** Insolvency and…; Corporate…; +3 more

## Timeline

- **2026-02-25 — CIRP Initiati…**: Corporate Insolvency Resolution Process (CIRP) initiated against Status Seramik India…
- **2026-02-27 — Public Annou…**: Applicant made a public announcement in 'The Indian Express' and 'Sandesh', inviting…

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-kolkata/resipol-adhesives-pvt-ltd-vs-status-seramik-india-pvt-ltd-aqnc3