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of <h1>Application to Withdraw Insolvency Process Filed Under Regulation 30A with Required Bank Guarantee for Approval by Creditors</h1> An application for the withdrawal of a corporate insolvency resolution process is submitted under Regulation 30A of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. The applicant, having previously filed and had an application admitted under Sections 7, 9, or 10 of the Insolvency and Bankruptcy Code, 2016, seeks to withdraw it. The application includes a bank guarantee as required by regulation 30A. If the withdrawal is approved by the Committee of Creditors with a ninety percent vote, the resolution professional is authorized to file the withdrawal application.
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