https://www.taxtmi.com/caselaws?id=407203 The Resolution Professional's role is confined to collation, verification, admission or rejection of claims, and updating the creditor list under the insolvency regulations; it cannot be used to reconstitute a duly formed Committee of Creditors or alter creditor status through an adjudicatory exercise. Once the Committee of Creditors is constituted, any change must occur within the insolvency framework. On the facts noted, the Adjudicating Authority's directions requiring the originally constituted Committee of Creditors to consider the proposed withdrawal application under section 12A were held legally sound, and the challenge failed. en-us Fri, 30 Apr 2021 00:00:00 +0530 Mon, 03 May 2021 08:18:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407203 The Resolution Professional's role is confined to collation, verification, admission or rejection of claims, and updating the creditor list under the insolvency regulations; it cannot be used to reconstitute a duly formed Committee of Creditors or alter creditor status through an adjudicatory exercise. Once the Committee of Creditors is constituted, any change must occur within the insolvency framework. On the facts noted, the Adjudicating Authority's directions requiring the originally constituted Committee of Creditors to consider the proposed withdrawal application under section 12A were held legally sound, and the challenge failed. Case-Laws Insolvency and Bankruptcy Fri, 30 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407203