https://www.taxtmi.com/caselaws?id=404452 Section 12A of the Insolvency and Bankruptcy Code, read with Regulation 30A(3), requires the interim resolution professional to place a withdrawal application before the adjudicating authority within three days of receiving Form FA, and pending creditor claims do not extend that duty. Withdrawal of the corporate insolvency resolution process may also be considered before constitution of the committee of creditors, including through the adjudicating authority's inherent powers. The authority cannot, while allowing withdrawal, compel settlement of all outstanding claims of creditors not before it, and no misconduct was found in the filing of the application within time. en-us Tue, 16 Feb 2021 00:00:00 +0530 Wed, 24 Feb 2021 09:42:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=404452 Section 12A of the Insolvency and Bankruptcy Code, read with Regulation 30A(3), requires the interim resolution professional to place a withdrawal application before the adjudicating authority within three days of receiving Form FA, and pending creditor claims do not extend that duty. Withdrawal of the corporate insolvency resolution process may also be considered before constitution of the committee of creditors, including through the adjudicating authority's inherent powers. The authority cannot, while allowing withdrawal, compel settlement of all outstanding claims of creditors not before it, and no misconduct was found in the filing of the application within time. Case-Laws Insolvency and Bankruptcy Tue, 16 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=404452