# In the matter of Brilliant Alloys Private Limited Vs. S. Rajagopal & Ors. Appeal (C) No(s). 31557-2018

> SC judgment dated 2018-12-14. Citation: TCN-2018-SC-00001. The case arises from a petition for Special Leave to Appeal against a final judgment and order…

- **Court:** SC
- **Order date:** 14 Dec 2018
- **Citation:** TCN-2018-SC-00001
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/supreme-court-of-india/brilliant-alloys-private-limited-vs-s-rajagopal-ors-appeal-bfd7712d

## Summary

### Background

The case arises from a petition for Special Leave to Appeal against a final judgment and order dated 2018-11-01 in MA No. 536/2018 passed by the National Company Law Tribunal, Divisional Bench, Chennai. The core issue revolves around the withdrawal of a petition after the issuance of an invitation for expression of interest.

## Facts

Brilliant Alloys Private Limited filed a petition for Special Leave to Appeal. The National Company Law Tribunal, Divisional Bench, Chennai, had passed a judgment and order on 2018-11-01 in MA No. 536/2018. The Corporate Debtor and the Financial Creditor agreed to the withdrawal of the petition. However, the withdrawal was not allowed initially because Regulation 30A states that withdrawal cannot be permitted after the issue of invitation for expression of interest. The Supreme Court considered Section 12A, which contains no such stipulation. The court ultimately allowed the settlement and annulled the proceedings.

## Issues and analysis

### Issue 1: Whether the withdrawal of a petition can be disallowed when the Corporate Debtor and Financial …

**Ratio:** The stipulation against withdrawal after the issuance of an invitation for expression of

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**Reasoning:** The court reasoned that Regulation 30A should be read along with Section 12A, which

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**Interpretation:** The court interpreted Regulation 30A as not creating an absolute bar to

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**Application:** In this case, the Corporate Debtor and the Financial Creditor agreed to the

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## Parties

- **Judges:** ROHINTON FALI…; NAVIN S…
- **Respondents:** BRILLIANT ALLOYS…; S. RAJAGOPAL &…
- **Other parties:** Affir…
- **Advocates:** Nandini Sen…; G. Ananda…; +8 more

## Timeline

- **2018-11-01 — NCLT Ord…**: Final judgment and order passed by the National Company Law Tribunal, Divisional Bench,…
- **2018-12-14 — Supreme Court…**: The petition was called on for hearing in the Supreme Court, and the court allowed the…

## 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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