https://www.taxtmi.com/caselaws?id=404390 Withdrawal of a corporate insolvency resolution process after constitution of the Committee of Creditors must follow the statutory post-constitution procedure under section 12A of the Insolvency and Bankruptcy Code and Regulation 30A of the CIRP Regulations. An assignee of the original financial creditor could not bypass that framework by filing its own application for direct withdrawal once the Committee of Creditors had come into existence. The Tribunal therefore held that the request was not maintainable in the manner sought and dismissed the application. en-us Wed, 16 Dec 2020 00:00:00 +0530 Tue, 23 Feb 2021 12:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=404390 Withdrawal of a corporate insolvency resolution process after constitution of the Committee of Creditors must follow the statutory post-constitution procedure under section 12A of the Insolvency and Bankruptcy Code and Regulation 30A of the CIRP Regulations. An assignee of the original financial creditor could not bypass that framework by filing its own application for direct withdrawal once the Committee of Creditors had come into existence. The Tribunal therefore held that the request was not maintainable in the manner sought and dismissed the application. Case-Laws Insolvency and Bankruptcy Wed, 16 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=404390