https://www.taxtmi.com/caselaws?id=290567 The Tribunal granted permission for the withdrawal of the Corporate Insolvency Resolution Process (CIRP) application under the Insolvency & Bankruptcy (I & B) Code, 2016. The Resolution Professional (RP) sought approval to withdraw the application initially filed by a financial creditor, which was approved by the Committee of Creditors (COC). Considering the direct payment of CIRP costs by the corporate debtor and RP's fees settlement, along with COC's unanimous decision, the Tribunal allowed the withdrawal. As a result, the application seeking withdrawal was permitted, and the initial CIRP application was disposed of as withdrawn. en-us Mon, 19 Nov 2018 00:00:00 +0530 Tue, 06 Oct 2020 10:46:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=290567 The Tribunal granted permission for the withdrawal of the Corporate Insolvency Resolution Process (CIRP) application under the Insolvency & Bankruptcy (I & B) Code, 2016. The Resolution Professional (RP) sought approval to withdraw the application initially filed by a financial creditor, which was approved by the Committee of Creditors (COC). Considering the direct payment of CIRP costs by the corporate debtor and RP's fees settlement, along with COC's unanimous decision, the Tribunal allowed the withdrawal. As a result, the application seeking withdrawal was permitted, and the initial CIRP application was disposed of as withdrawn. Case-Laws Insolvency and Bankruptcy Mon, 19 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=290567