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of <h1>New Rules Allow Withdrawal of Insolvency Applications for Personal Guarantors with 90% Creditor Consent After Admission</h1> The Adjudicating Authority may allow the withdrawal of an insolvency resolution application for personal guarantors to corporate debtors. Withdrawal is permitted before the application's admission upon the applicant's request. After admission, withdrawal requires the applicant's request and the agreement of ninety percent of the creditors. Applications for withdrawal after admission must be submitted in Form D as per the specified rules.
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