https://www.taxtmi.com/caselaws?id=416797 The judgment clarified that a withdrawal application under Section 12A of the Insolvency and Bankruptcy Code, filed before the constitution of the Committee of Creditors, does not necessitate ninety percent approval from the CoC. The settlement between the parties, including full payment to the appellant before the adjudicating authority's order, justified the withdrawal of the CIRP application. The requirement for CoC approval was overturned, allowing the withdrawal application. The appeals were allowed without costs. en-us Fri, 07 Jan 2022 00:00:00 +0530 Mon, 10 Jan 2022 19:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=416797 The judgment clarified that a withdrawal application under Section 12A of the Insolvency and Bankruptcy Code, filed before the constitution of the Committee of Creditors, does not necessitate ninety percent approval from the CoC. The settlement between the parties, including full payment to the appellant before the adjudicating authority's order, justified the withdrawal of the CIRP application. The requirement for CoC approval was overturned, allowing the withdrawal application. The appeals were allowed without costs. Case-Laws Insolvency and Bankruptcy Fri, 07 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=416797