# In the matter of kamal K. Singh vs. Dinesh Gupta & Anr. CIVIL APPEAL NO.4993 OF 2021

> SC judgment dated 2021-08-25. Citation: TCN-2021-SC-00023. The appeal arises from a judgment and order dated 06.08.2021 passed by the National Company Law…

- **Court:** SC
- **Order date:** 25 Aug 2021
- **Citation:** TCN-2021-SC-00023
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/supreme-court-of-india/kamal-k-singh-vs-dinesh-gupta-anr-civil-appeal-no4993-of-2021-eaf34fc3

## Summary

### Background

The appeal arises from a judgment and order dated 06.08.2021 passed by the National Company Law Tribunal, Mumbai Bench, in I.A. No. 1196 of 2021 in Company Petition (IB) No. 1069 of 2020. The NCLT rejected the application filed by the respondent no.1 under Rule 11 of the National Company Law Tribunal Rules, 2016, seeking withdrawal of the company petition and setting aside the initiation of the Corporate Insolvency Resolution Process (CIRP). The application was based on a settlement between the parties before the constitution of the Committee of Creditors (CoC).

## Facts

The appellant, Kamal K. Singh, filed an appeal against the order of the National Company Law Tribunal (NCLT), Mumbai Bench, dated 06.08.2021. The NCLT had rejected an application filed by the respondent, Dinesh Gupta, under Rule 11 of the NCLT Rules, seeking withdrawal of a company petition (IB) No. 1069 of 2020. The withdrawal was sought based on a settlement between Dinesh Gupta (applicant-respondent no.1) and the corporate debtor before the constitution of the Committee of Creditors (CoC). The company petition was filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC). The Supreme Court considered the appeal, noting that the CoC had not yet been constituted. The Court referred to the Swiss Ribbons case, which clarified the power of the NCLT to allow

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## Issues and analysis

### Issue 1: Whether the National Company Law Tribunal (NCLT) erred in rejecting the application for withdrawal …

**Ratio:** The legal principle applied is that before a Committee of Creditors is constituted, a

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**Reasoning:** The Court reasoned that since the Committee of Creditors (CoC) had not been constituted,

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**Interpretation:** The interpretation of Rule 11 of the NCLT Rules, in conjunction with the Swiss

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**Application:** In this specific case, the Court applied the ratio and reasoning to the facts

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## Parties

- **Judges:** S. ABDUL…; KRISHNA M…
- **Appellants:** KAMAL K.…
- **Respondents:** Dinesh…

## Timeline

- **2021-08-06 — NCLT Ord…**: National Company Law Tribunal, Mumbai Bench, passed an order in I.A. No. 1196 of 2021 in…
- **2021-08-25 — Supreme Cour…**: The Supreme Court allowed the appeal, setting aside the NCLT's order and permitting the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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