Allowed

In the matter of Deem Construction Company Pvt. Ltd. [Ia No. 273-JPR-2023 in Cp No. (Ib)- 73-9-JPR-2020]

NCLT17 May 2023IA No. 273-JPR-2023 in CP No. (IB)- 73-9-JPR-2020

Case brief

AI extract

What is this about?

NCLT allowed the withdrawal of a company petition filed by an operational creditor against a corporate debtor under Section 9 of the Insolvency and Bankruptcy Code, 2016, following an amicable settlement where no dues remained unpaid.

What did the court decide?

Permission granted to withdraw the main petition; CP No. (IB)-73/2020 dismissed as withdrawn.

In the matter of Deem Construction Company Pvt. Ltd. [Ia… — Insolvency and Bankruptcy | NCLT (2023)

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NATIONAL COMPANY LAW TRIBUNAL JAIPUR BENCH

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(through web-bssed video conferencing plofornl

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Item No.02 IA No. 273|JPR/2023 CP No. (IB)- 73l9lJPRl2020 Under Section 9 of IBC' 2016

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In the matter of:

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Tijaria Polypipes Ltd.

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... Operational Creditor/Applicant

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Versus

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Deem Construction Company Pvt. Ltd. ... Corporate Debtor/ftespondent CoTam: HON'BLE MR. DEEP CHANDRA JOSHI, JUDICIAL MEMBER

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HON'BLE MS. MADHU SINHA, TECHNICAL MtrMBER

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Prcsent Through Video Conferencing: -

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For the Applicant : Anurag I(alavatiya, Adv.

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For the IRP : Sandeep Kumar Jain, PCS For the Respondent : Mohit I(handelwal, Adv.

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ORDER

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IA No. 273!PR/2023:

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This application has been filed by Mr. Sandeep Kumar Jain, IRP of M/s Deem Construction Company Private Limited u/s 12A of the Insolvency & Bankruptcy Code, 2016 r/w Regulation 30A of Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulation2016 and Ruie 11 of the NCLT Rules, 2016 seeking withdrawal of the Company Petition filed u/s 9 of IBC, 2016. An application filed by M/s Tijaria Polypipes Limited (Operational Creditor) u/s 9 of IBC, 2016 against the Deem Construction Company Private Limited (Corporate Debtor) was admitted vide Order dated S4 Sa{

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NI(

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19.04.2023. Operational Creditor has submitted a copy of settlement deed dated 09.05.2023 along with Form FA dated 10.05.2023 to the IRP as per the Regulation 30A of Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 which clarifies that no dues are remaining to be paid to the Operational Creditor by the Corporate Debtor.

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IRP has not constituted Committee of Creditors ('CoC') as the Operational Creditor and Mr. Naseem Quareshi being the Member of the Suspended Board of Corporate Debtor settled the matter amicably.

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The Applicant/ IRP seeks to withdraw the main petition. Permission granted. CP No. (IB)- 73l9lJPR/2020 is dismissed as withdrawn. All pending

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mfrl rt"rar airp*ed of accordingly.

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-gaL (Madhu Sinlia) Technical Member

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(Deep Chandra Joshi) Judicial Member

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May 1 7 ,2023

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In the matter of Deem Construction Company Pvt. Ltd. [Ia No. 273-JPR-2023 in Cp No. (Ib)- 73-9-JPR-2020]

Case brief

What is this about?

What did the court decide?

In the matter of Deem Construction Company Pvt. Ltd. [Ia No. 273-JPR-2023 in Cp No. (Ib)- 73-9-JPR-2020]

Case brief

What is this about?

What did the court decide?

What the court decided

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