https://www.taxtmi.com/caselaws?id=304183 The Tribunal allowed the withdrawal of the Corporate Insolvency Resolution Process (CIRP) under Section 12A of the Insolvency and Bankruptcy Code, 2016, due to a settlement between the corporate debtor and the operational creditor. The Interim Resolution Professional's expenses were partially approved, and the Suspended Board of Directors was restored. Applications seeking cessation of CIRP and assistance for asset possession were rendered infructuous due to the withdrawal approval. The corporate debtor was released from CIRP proceedings, subject to the reimbursement of approved expenses. en-us Mon, 30 May 2022 00:00:00 +0530 Mon, 12 Sep 2022 08:15:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=304183 The Tribunal allowed the withdrawal of the Corporate Insolvency Resolution Process (CIRP) under Section 12A of the Insolvency and Bankruptcy Code, 2016, due to a settlement between the corporate debtor and the operational creditor. The Interim Resolution Professional's expenses were partially approved, and the Suspended Board of Directors was restored. Applications seeking cessation of CIRP and assistance for asset possession were rendered infructuous due to the withdrawal approval. The corporate debtor was released from CIRP proceedings, subject to the reimbursement of approved expenses. Case-Laws Insolvency and Bankruptcy Mon, 30 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=304183