https://www.taxtmi.com/caselaws?id=757091 NCLAT dismissed appeal challenging adjudicating authority's refusal to grant liberty to file fresh application under Section 9 of IBC after permitting withdrawal. Court held withdrawal of Section 9 application is not a matter of right, and timeline is crucial in IBC proceedings. Corporate debtor had raised objections alleging false evidence in demand notice by appellant. Adjudicating authority correctly permitted withdrawal while denying liberty to file afresh, though Rs.50,000 cost imposition was deemed unnecessary. en-us Tue, 13 Aug 2024 00:00:00 +0530 Wed, 14 Aug 2024 17:05:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=757091 NCLAT dismissed appeal challenging adjudicating authority's refusal to grant liberty to file fresh application under Section 9 of IBC after permitting withdrawal. Court held withdrawal of Section 9 application is not a matter of right, and timeline is crucial in IBC proceedings. Corporate debtor had raised objections alleging false evidence in demand notice by appellant. Adjudicating authority correctly permitted withdrawal while denying liberty to file afresh, though Rs.50,000 cost imposition was deemed unnecessary. Case-Laws Insolvency and Bankruptcy Tue, 13 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=757091