https://www.taxtmi.com/caselaws?id=308982 Once a Section 9 insolvency application is admitted and moratorium is ordered, a later settlement between the original parties does not permit withdrawal at the instance of the operational creditor. Rule 8 of the Insolvency & Bankruptcy (Adjudicating Authority) Rules, 2016 allows withdrawal before admission, but after admission the insolvency process also engages the interests of other creditors through public announcement and claim participation. As no illegality was shown in the admission order, interference in appeal was unwarranted and the admission was upheld. en-us Thu, 13 Jul 2017 00:00:00 +0530 Fri, 04 Aug 2023 21:24:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=308982 Once a Section 9 insolvency application is admitted and moratorium is ordered, a later settlement between the original parties does not permit withdrawal at the instance of the operational creditor. Rule 8 of the Insolvency & Bankruptcy (Adjudicating Authority) Rules, 2016 allows withdrawal before admission, but after admission the insolvency process also engages the interests of other creditors through public announcement and claim participation. As no illegality was shown in the admission order, interference in appeal was unwarranted and the admission was upheld. Case-Laws Insolvency and Bankruptcy Thu, 13 Jul 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=308982