JUDGMENT

ASHOK BHUSHAN, J.

1.These two appeals have been filed against the same order dated 27.08.2025 passed by the adjudicating authority (National Company Law Tribunal, Kolkata Bench, Kolkata) allowing the I.A. No. 1374/KB/2025 under Section 12A of the Insolvency & Bankruptcy Code, 2016 (for short the “Code” or the “IBC”) in C.P. (IB) No.1374/KB/2025. The adjudicating authority by the impugned order allowed the I.A. filed by the Interim Resolution Professional (“IRP”) and dismissed as withdrawn the Section 9 application filed by the operational creditor. Aggrieved by the order, these two appeals have been filed.

2. Brief facts of the case necessary to be noticed for deciding these two appeals are:

i. The West Bengal Agro Textile Corporation Limited, the corporate debtor 100% Government of West Bengal owned entity used to take supplies from vendors. An application under Section 9 was filed against the corporate debtor by operational creditor Jitendra Jain, on which C.P. (IB) No.207/KB/2023 was registered. Application was filed alleging default of non-payment of invoices claiming an amount of Rs. 1,19,36,635/-.

ii. Appellant also claimed to have filed Section 9 application C.P. (IB) No.2347/KB/2024, ‘Chandra Prakash Lohia’ Vs. ‘M/s. West Bengal Agro Textile Corporation Ltd.’ and C.P. (IB) No. 353/KB/2024, ‘Basanti Devi Lohia’ Vs. ‘M/s. West Bengal Agro Textile Corporation Ltd.’

iii. In Section 9 application filed by Jitendra Jain, an order was passed by the adjudicating authority on 22.08.2025 admitting Section 9 application and appointed one Mr. Pratap Mukherjee as an IRP. Order of admission was passed on 22.08.2025.

iv. A Settlement Agreement dated 18.08.2025 has been entered between the West Bengal Agro Textile Corporation Ltd. and Jitendra Jain, where parties have arrived at settlement dated 18.08.2025 of Rs.1.5 crore.

v. On 23.08.2025, IRP received an email from operational creditor along with copy of Form-FA under Regulation 30A of the IBBI (Insolvency Resolution Process for Corporate Persons), Regulation 2016 (for short the “CIRP Regulations, 2016”) seeking to withdraw the C.P. (IB) No.207/KB/2023. The IRP on receiving the request did not carry out any public announcement in Form-FA and sent an email on 24.08.2025 to the IRP to provide copy of Settlement Agreement and receipt of the payment and any other relevant document.

vi. On 25.08.2025, IRP received Settlement Agreement dated 18.08.2025 and copy of the receipt. IRP filed an application under Section 12A dated 25.08.2025 for withdrawal of the Corporate Insolvency Resolution Process (“CIRP”).

vii. On 28.08.2025 application came for consideration before the adjudicating authority, on which date adjudicating authority allowed the application by the impugned order permitting withdrawal of C.P. (IB) No.207/KB/2023. Aggrieved by the aforesaid order 27.08.2025, these two appeals have been filed.

3. We have heard Mr. Akshay Jain, CA for the appellant and learned counsel Mr. Shounak Mitra appearing for the corporate debtor.

4. Learned counsel for the appellant submitted that appellant has already filed Section 9 application against the corporate debtor which were pending consideration. The adjudicating authority could not have allowed the application under Section 12A of the IBC without considering the claim of the appellant. It is submitted that after admission of Section 9 application, the proceeding being in rem proceeding and all stakeholders were entitled to be heard. It is submitted that without giving opportunity to the appellant, 12A application has been allowed. Learned counsel for the appellant has placed reliance on the judgment of the Hon’ble Supreme Court in ‘GLAS Trust Company LLC’ Vs. ‘BYJU Raveendran & Ors.’ reported in [(2025) 3 SCC 625] and Judgment of this Tribunal dated 05.03.2025 in ‘Himanshu Singh’ Vs. ‘HDFC Bank Ltd. & Anr.’ in [Comp. App. (AT) (Ins.) No.336/2025] and another judgment of this Tribunal in ‘Chikali Nagaraju, (Suspended Director of Balasore Alloys L