https://www.taxtmi.com/caselaws?id=397599 Before constitution of the Committee of Creditors, withdrawal or settlement of a corporate insolvency process may be pursued directly before the adjudicating authority using its inherent powers, alongside the regulatory route under Regulation 30A. Once the Committee of Creditors is constituted, withdrawal must proceed through the statutory Section 12A mechanism and be considered by the Committee. In the stated facts, the matter was remitted for urgent consideration of the withdrawal request through that statutory process, with the appellant allowed to pursue settlement and further progress in the insolvency process restrained until the decision was taken. en-us Fri, 28 Feb 2020 00:00:00 +0530 Mon, 24 Aug 2020 11:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=397599 Before constitution of the Committee of Creditors, withdrawal or settlement of a corporate insolvency process may be pursued directly before the adjudicating authority using its inherent powers, alongside the regulatory route under Regulation 30A. Once the Committee of Creditors is constituted, withdrawal must proceed through the statutory Section 12A mechanism and be considered by the Committee. In the stated facts, the matter was remitted for urgent consideration of the withdrawal request through that statutory process, with the appellant allowed to pursue settlement and further progress in the insolvency process restrained until the decision was taken. Case-Laws Insolvency and Bankruptcy Fri, 28 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=397599