https://www.taxtmi.com/caselaws?id=294905 The judgment focuses on the constitution of the Committee of Creditors, highlighting that the Operational Creditor is the sole creditor comprising the Committee. It emphasizes that the Corporate Debtor's only exit route from insolvency is through Section 12A of the Insolvency and Bankruptcy Code, 2016. The Corporate Debtor is permitted to seek withdrawal of the application through the Committee for settlement with the Operational Creditor. The appeal is disposed of, allowing the Corporate Debtor to proceed with the withdrawal based on the settlement, with interim directions vacated and the order sent to the Adjudicating Authority for information. en-us Wed, 10 Jun 2020 00:00:00 +0530 Sat, 08 May 2021 08:16:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=294905 The judgment focuses on the constitution of the Committee of Creditors, highlighting that the Operational Creditor is the sole creditor comprising the Committee. It emphasizes that the Corporate Debtor's only exit route from insolvency is through Section 12A of the Insolvency and Bankruptcy Code, 2016. The Corporate Debtor is permitted to seek withdrawal of the application through the Committee for settlement with the Operational Creditor. The appeal is disposed of, allowing the Corporate Debtor to proceed with the withdrawal based on the settlement, with interim directions vacated and the order sent to the Adjudicating Authority for information. Case-Laws Insolvency and Bankruptcy Wed, 10 Jun 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=294905