# In the matter of Kamal K. Singh vs. Milan Vasant Sanyasi & Anr. CIVILAPPEAL No(s). 5028 OF 2021

> SC judgment dated 2021-08-27. Citation: TCN-2021-SC-00021. The appeals before the Supreme Court arose from a judgment and order dated 06.08.2021 passed by the…

- **Court:** SC
- **Order date:** 27 Aug 2021
- **Citation:** TCN-2021-SC-00021
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/supreme-court-of-india/kamal-k-singh-vs-milan-vasant-sanyasi-anr-civilappeal-no-f625cfcc

## Summary

### Background

The appeals before the Supreme Court arose from a judgment and order dated 06.08.2021 passed by the National Company Law Tribunal (NCLT), Mumbai Bench. The NCLT had rejected applications for withdrawal of company petitions related to Corporate Insolvency Resolution Process (CIRP) based on settlements reached before the constitution of the Committee of Creditors (CoC). The appellant, Kamal K. Singh, filed appeals against this order.

## Facts

Kamal K. Singh filed appeals against the order of the National Company Law Tribunal (NCLT), Mumbai Bench, dated 06.08.2021. The NCLT had rejected applications filed by the respondent no.1 under Rule 11 of the National Company Law Tribunal Rules, 2016, seeking withdrawal of company petitions and setting aside the initiation of Corporate Insolvency Resolution Process (CIRP). These applications were based on settlements between the parties before the constitution of the Committee of Creditors (CoC). The Supreme Court noted that the CoC had not been constituted. The applicant-respondent no.1 had filed the applications before the NCLT under Rule 11 of the NCLT Rules for withdrawal of company petition(s) filed under Section 9 of the Insolvency and Bankruptcy Code, 2016

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## Issues and analysis

### Issue 1: Whether the NCLT was correct in rejecting the application for withdrawal of the company petition(s) …

**Ratio:** Before the constitution of a Committee of Creditors (CoC), a party can approach the

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**Reasoning:** The Supreme Court relied on its earlier judgment in Swiss Ribbons Private Limited and

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**Interpretation:** Rule 11 of the NCLT Rules provides the Tribunal with inherent powers to allow

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**Application:** In this case, since the settlement was reached before the constitution of the

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## Parties

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

## Timeline

- **2021-08-06 — NCLT Ord…**: The National Company Law Tribunal (NCLT), Mumbai Bench, passed an order rejecting the…
- **2021-08-27 — Supreme Cour…**: The Supreme Court allowed the appeals, set aside the NCLT's order, and ordered 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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