Withdrawal of public announcement in creditor-initiated insolvency process is allowed only within limited statutory stages. Withdrawal of the public announcement made under section 58B in a creditor-initiated insolvency resolution process may be allowed by the Adjudicating Authority on an application by the resolution professional with approval of ninety per cent voting share of the committee of creditors. Withdrawal is barred before the committee of creditors is constituted and after the first invitation for submission of a resolution plan has been issued. The Adjudicating Authority must decide the application within fourteen days and, if delayed, record reasons in writing.