https://www.taxtmi.com/caselaws?id=292921 Withdrawal of an insolvency petition under Section 12A of the Insolvency and Bankruptcy Code was permitted on the basis of settlement between the operational creditor and the suspended management after receipt of the claim amount and execution of Form FA. Although the corporate insolvency process had been admitted and a resolution professional appointed, the committee of creditors had not yet been constituted. In that pre-committee stage, the Tribunal found no impediment to withdrawal and allowed the petition to be disposed of as withdrawn. en-us Fri, 13 Mar 2020 00:00:00 +0530 Tue, 12 Jan 2021 21:16:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=292921 Withdrawal of an insolvency petition under Section 12A of the Insolvency and Bankruptcy Code was permitted on the basis of settlement between the operational creditor and the suspended management after receipt of the claim amount and execution of Form FA. Although the corporate insolvency process had been admitted and a resolution professional appointed, the committee of creditors had not yet been constituted. In that pre-committee stage, the Tribunal found no impediment to withdrawal and allowed the petition to be disposed of as withdrawn. Case-Laws Insolvency and Bankruptcy Fri, 13 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=292921