https://www.taxtmi.com/caselaws?id=409257 The Tribunal upheld the Adjudicating Authority's decision to allow the withdrawal of the Corporate Insolvency Resolution Process (CIRP) initiated under Section 9 of the Insolvency and Bankruptcy Code. The appeal challenging the withdrawal was dismissed as lacking merit. The Tribunal emphasized compliance with Section 12A of the IBC and Regulation 30A, and the necessity to hear all concerned parties before permitting a withdrawal application. The Adjudicating Authority's exercise of judicial discretion was deemed appropriate and free from legal errors. en-us Thu, 01 Jul 2021 00:00:00 +0530 Sat, 03 Jul 2021 08:56:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=409257 The Tribunal upheld the Adjudicating Authority's decision to allow the withdrawal of the Corporate Insolvency Resolution Process (CIRP) initiated under Section 9 of the Insolvency and Bankruptcy Code. The appeal challenging the withdrawal was dismissed as lacking merit. The Tribunal emphasized compliance with Section 12A of the IBC and Regulation 30A, and the necessity to hear all concerned parties before permitting a withdrawal application. The Adjudicating Authority's exercise of judicial discretion was deemed appropriate and free from legal errors. Case-Laws Insolvency and Bankruptcy Thu, 01 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=409257