https://www.taxtmi.com/caselaws?id=291556 The Tribunal allowed the withdrawal application under Section 12A of the IBC, dismissing the main Company Petition. The Financial Creditor's claim was accepted, but their refusal to accept the admitted amount led to the Tribunal permitting withdrawal. The CoC had the authority to file the withdrawal application, meeting the required 90% voting share through rounding off percentages. The decision aligned with legal principles and previous judgments, emphasizing compliance with the IBC. en-us Wed, 17 Jul 2019 00:00:00 +0530 Tue, 17 Nov 2020 16:04:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=291556 The Tribunal allowed the withdrawal application under Section 12A of the IBC, dismissing the main Company Petition. The Financial Creditor's claim was accepted, but their refusal to accept the admitted amount led to the Tribunal permitting withdrawal. The CoC had the authority to file the withdrawal application, meeting the required 90% voting share through rounding off percentages. The decision aligned with legal principles and previous judgments, emphasizing compliance with the IBC. Case-Laws Insolvency and Bankruptcy Wed, 17 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=291556