# In the matter of Indus Projects Private Limited

> NCLT judgment dated 2025-06-30. Citation: TCN-2025-NCLT-00861. An application was filed seeking exclusion of 34 days from the CIRP period, allowing an…

- **Court:** NCLT
- **Order date:** 30 Jun 2025
- **Citation:** TCN-2025-NCLT-00861
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/indus-projects-private-limited-75325463

## Summary

### Background

An application was filed seeking exclusion of 34 days from the CIRP period, allowing an application under Section 12A of the IBC, relieving Indus Projects Limited from CIRP, and terminating the CIRP of the Corporate Debtor, discharging the IRP.

## Facts

The application seeks exclusion of 34 days from the CIRP period of the Corporate Debtor.

The application seeks to allow the present application under Section 12A of the Insolvency and Bankruptcy Code, 2016.

The application seeks to relieve M/s Indus Projects Limited from the rigours of Corporate Insolvency Resolution Process (CIRP).

The application seeks to terminate the CIRP of the Corporate Debtor and discharge the IRP.

The Corporate Debtor was admitted to CIRP vide an order dated 08.05.2025.

The IRP received form-FA from the Applicant Operational Creditor on 16.06.2025.

The RP affirmed the present Application on 19.06.2025.

No Committee of Creditors (CoC) has been formed in the matter so far.

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## Issues and analysis

### Issue 1: Whether the application under Section 12A of the Insolvency and Bankruptcy Code, 2016 should be …

**Ratio:** Section 12A of the Insolvency and Bankruptcy Code, 2016 allows for withdrawal of

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**Reasoning:** The Operational Creditor and the Corporate Debtor have arrived at a settlement, and the

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**Interpretation:** Section 12A provides a mechanism for withdrawal of CIRP upon settlement between

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**Application:** The Tribunal allowed the application under Section 12A, considering the

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## Parties

- **Judges:** SAMEER…; NILESH S…
- **Appellants:** DES Techni…; Sujit…
- **Respondents:** Indus Proje…
- **Other parties:** Vivek Satyaprakash…
- **Advocates:** Sujit…

## Timeline

- **2021 — C.P.(IB)/ 1183…**: Company Petition bearing C.P.…
- **2025-05-08 — Admission…**: Admission Order dated May 08,…

## 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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