https://www.taxtmi.com/caselaws?id=409564 The Tribunal allowed the application for withdrawal of Corporate Insolvency Resolution Process (CIRP) under Rule 11 of NCLT Rules, 2016. The Corporate Debtor was directed to pay the fee and expenses incurred by the Interim Resolution Professional (IRP) and instructed the IRP to hand over all records to the management. The Tribunal emphasized that the suspended management must act in the best interests of the Corporate Debtor and creditors. The Corporate Debtor was released from CIRP following the Tribunal's decision. en-us Tue, 29 Jun 2021 00:00:00 +0530 Sun, 11 Jul 2021 17:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=409564 The Tribunal allowed the application for withdrawal of Corporate Insolvency Resolution Process (CIRP) under Rule 11 of NCLT Rules, 2016. The Corporate Debtor was directed to pay the fee and expenses incurred by the Interim Resolution Professional (IRP) and instructed the IRP to hand over all records to the management. The Tribunal emphasized that the suspended management must act in the best interests of the Corporate Debtor and creditors. The Corporate Debtor was released from CIRP following the Tribunal's decision. Case-Laws Insolvency and Bankruptcy Tue, 29 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=409564