https://www.taxtmi.com/caselaws?id=384848 The Committee of Creditors (CoC) approved a settlement proposal under Section 12A of the Insolvency and Bankruptcy Code, allowing a bank (Petitioner) to settle with the Corporate Debtor through an E-auction. With 100% voting, the CoC, comprising the Petitioner bank, withdrew the Corporate Insolvency Resolution Process. The Adjudicating Authority safeguarded third-party stakeholders' interests, ensuring their rights are unaffected. Costs and fees of the resolution process were settled. The order directed communication to relevant authorities, concluding the withdrawal based on the settlement agreement. en-us Thu, 11 Jul 2019 00:00:00 +0530 Sun, 25 Aug 2019 12:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=384848 The Committee of Creditors (CoC) approved a settlement proposal under Section 12A of the Insolvency and Bankruptcy Code, allowing a bank (Petitioner) to settle with the Corporate Debtor through an E-auction. With 100% voting, the CoC, comprising the Petitioner bank, withdrew the Corporate Insolvency Resolution Process. The Adjudicating Authority safeguarded third-party stakeholders' interests, ensuring their rights are unaffected. Costs and fees of the resolution process were settled. The order directed communication to relevant authorities, concluding the withdrawal based on the settlement agreement. Case-Laws Insolvency and Bankruptcy Thu, 11 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=384848