https://www.taxtmi.com/caselaws?id=386123 The Tribunal approved the application for withdrawal of the company petition under section 12A of the Insolvency and Bankruptcy Code (IBC). The Committee of Creditors unanimously approved the withdrawal application, meeting the required 90% voting share. Despite the publication of Expression of Interest (EOI), the Tribunal ruled that Section 12A of the IBC supersedes regulations, allowing withdrawal post-EOI issuance. With the COC's agreement and no outstanding CIRP expenses, the Tribunal granted permission for withdrawal, resulting in the closure of the Corporate Insolvency Resolution Process for the company petition. en-us Thu, 06 Jun 2019 00:00:00 +0530 Mon, 23 Sep 2019 07:19:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=386123 The Tribunal approved the application for withdrawal of the company petition under section 12A of the Insolvency and Bankruptcy Code (IBC). The Committee of Creditors unanimously approved the withdrawal application, meeting the required 90% voting share. Despite the publication of Expression of Interest (EOI), the Tribunal ruled that Section 12A of the IBC supersedes regulations, allowing withdrawal post-EOI issuance. With the COC's agreement and no outstanding CIRP expenses, the Tribunal granted permission for withdrawal, resulting in the closure of the Corporate Insolvency Resolution Process for the company petition. Case-Laws Insolvency and Bankruptcy Thu, 06 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=386123