https://www.taxtmi.com/caselaws?id=407367 Withdrawal of the corporate insolvency resolution process was permitted after settlement, where Form FA was filed by the operational creditor and the sole committee of creditors member gave no objection. The Tribunal treated the application under the Insolvency and Bankruptcy Code and related regulations as maintainable at the preliminary stage and allowed exit from the process. It also directed the corporate debtor to pay the balance insolvency resolution process costs, including professional and litigation expenses, and restored the powers of the suspended board of directors. Pending applications were closed accordingly. en-us Thu, 29 Apr 2021 00:00:00 +0530 Sat, 08 May 2021 08:18:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407367 Withdrawal of the corporate insolvency resolution process was permitted after settlement, where Form FA was filed by the operational creditor and the sole committee of creditors member gave no objection. The Tribunal treated the application under the Insolvency and Bankruptcy Code and related regulations as maintainable at the preliminary stage and allowed exit from the process. It also directed the corporate debtor to pay the balance insolvency resolution process costs, including professional and litigation expenses, and restored the powers of the suspended board of directors. Pending applications were closed accordingly. Case-Laws Insolvency and Bankruptcy Thu, 29 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407367