https://www.taxtmi.com/caselaws?id=390258 A corporate insolvency petition may be withdrawn under Section 12A read with Regulation 30A after admission, provided the prescribed process is complied with before constitution of the Committee of Creditors. Here, the withdrawal request was moved through the Interim Resolution Professional in Form FA after the operational creditor and the corporate debtor settled the dispute amicably. As the Committee of Creditors had not yet been constituted, the adjudicating authority treated the procedural requirements as satisfied and held that it could approve withdrawal at that stage. The company petition was therefore permitted to be withdrawn. en-us Wed, 23 Oct 2019 00:00:00 +0530 Fri, 27 Dec 2019 07:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=390258 A corporate insolvency petition may be withdrawn under Section 12A read with Regulation 30A after admission, provided the prescribed process is complied with before constitution of the Committee of Creditors. Here, the withdrawal request was moved through the Interim Resolution Professional in Form FA after the operational creditor and the corporate debtor settled the dispute amicably. As the Committee of Creditors had not yet been constituted, the adjudicating authority treated the procedural requirements as satisfied and held that it could approve withdrawal at that stage. The company petition was therefore permitted to be withdrawn. Case-Laws Insolvency and Bankruptcy Wed, 23 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=390258