https://www.taxtmi.com/caselaws?id=378150 The Interlocutory Application for withdrawal of IB Petition and recalling of CIRP was allowed by the Adjudicating Authority before the constitution of the Committee of Creditors (CoC). The decision was based on the timing of the application, the settlement agreement reached before CoC formation, and the practical difficulties in obtaining CoC consent. Specific payment obligations were imposed on the petitioner and the Corporate Debtor for CIRP expenses, with non-compliance leading to CIRP continuation as per the Insolvency and Bankruptcy Code provisions. en-us Thu, 28 Feb 2019 00:00:00 +0530 Wed, 10 Apr 2019 06:46:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=378150 The Interlocutory Application for withdrawal of IB Petition and recalling of CIRP was allowed by the Adjudicating Authority before the constitution of the Committee of Creditors (CoC). The decision was based on the timing of the application, the settlement agreement reached before CoC formation, and the practical difficulties in obtaining CoC consent. Specific payment obligations were imposed on the petitioner and the Corporate Debtor for CIRP expenses, with non-compliance leading to CIRP continuation as per the Insolvency and Bankruptcy Code provisions. Case-Laws Insolvency and Bankruptcy Thu, 28 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=378150