https://www.taxtmi.com/caselaws?id=432405 The court set aside the withdrawal of the Section 9 Application, allowing the Corporate Insolvency Resolution Process (CIRP) initiated on 18.12.2020 to continue. It directed the restoration of funds withdrawn by State Bank of India and rejected the admission of the Section 7 Application. The judgment emphasized maintaining the integrity of the insolvency resolution process and safeguarding the corporate debtor's assets for an effective resolution, prioritizing the interests of all creditors involved. en-us Tue, 03 Jan 2023 00:00:00 +0530 Thu, 05 Jan 2023 12:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=432405 The court set aside the withdrawal of the Section 9 Application, allowing the Corporate Insolvency Resolution Process (CIRP) initiated on 18.12.2020 to continue. It directed the restoration of funds withdrawn by State Bank of India and rejected the admission of the Section 7 Application. The judgment emphasized maintaining the integrity of the insolvency resolution process and safeguarding the corporate debtor's assets for an effective resolution, prioritizing the interests of all creditors involved. Case-Laws Insolvency and Bankruptcy Tue, 03 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=432405