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        F. Acts / Amendment Acts

        Section 9 - Insertion of new section 12A- Withdrawal of application admitted under section 7, 9 or 10

        Insolvency and Bankruptcy Code (Second Amendment) Act, 2018

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        Withdrawal of insolvency application requires supermajority creditor approval; Adjudicating Authority may permit withdrawal under admission provisions. Section 12A empowers the Adjudicating Authority to allow withdrawal of an application admitted under creditor- or debtor-initiated insolvency admission provisions, provided the applicant obtains approval by a supermajority of the committee of creditors in the manner to be specified.
                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                          Provisions expressly mentioned in the judgment/order text.

                              Withdrawal of insolvency application requires supermajority creditor approval; Adjudicating Authority may permit withdrawal under admission provisions.

                              Section 12A empowers the Adjudicating Authority to allow withdrawal of an application admitted under creditor- or debtor-initiated insolvency admission provisions, provided the applicant obtains approval by a supermajority of the committee of creditors in the manner to be specified.


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