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<h1>Insolvency Application Withdrawal Allowed Under Section 12A with 90% Creditor Approval, Per 2018 Amendment Act Procedures.</h1> Section 12A of the Insolvency and Bankruptcy Code, introduced by the Second Amendment Act of 2018, permits the withdrawal of an insolvency application admitted under sections 7, 9, or 10. This withdrawal can occur if the applicant submits a request and receives approval from 90% of the voting share of the committee of creditors, following specified procedures.