https://www.taxtmi.com/caselaws?id=413427 The Supreme Court allowed the appeal, setting aside the NCLT's order and granting withdrawal of the company petition. The Court ruled in favor of the respondent, ordering the withdrawal of the petition without costs due to a settlement before the formation of the Committee of Creditors. The Court emphasized the importance of consulting the CoC before settling claims in collective proceedings, following the decision in Swiss Ribbons Private Limited and Anr. v. Union of India and Others. en-us Wed, 25 Aug 2021 00:00:00 +0530 Tue, 12 Oct 2021 09:27:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=413427 The Supreme Court allowed the appeal, setting aside the NCLT's order and granting withdrawal of the company petition. The Court ruled in favor of the respondent, ordering the withdrawal of the petition without costs due to a settlement before the formation of the Committee of Creditors. The Court emphasized the importance of consulting the CoC before settling claims in collective proceedings, following the decision in Swiss Ribbons Private Limited and Anr. v. Union of India and Others. Case-Laws Insolvency and Bankruptcy Wed, 25 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=413427