https://www.taxtmi.com/caselaws?id=773938 NCLAT dismissed an appeal challenging NCLT's rejection of a Section 12A withdrawal application filed before CoC constitution. The case involved settlement with SIDBI for Rs. 1,58,70,199 on 23.06.2022, followed by withdrawal application on 25.06.2022. A financial creditor filed timely objection on 30.06.2022. NCLAT upheld NCLT's decision, ruling that adjudicating authority must consider relevant factors including nature and quantum of claims when deciding Section 12A applications before CoC formation. The tribunal emphasized that NCLT is not merely a post office and must evaluate objections on merit, considering overall facts and circumstances rather than applying any rigid formula. en-us Mon, 05 May 2025 00:00:00 +0530 Tue, 01 Jul 2025 08:47:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=773938 NCLAT dismissed an appeal challenging NCLT's rejection of a Section 12A withdrawal application filed before CoC constitution. The case involved settlement with SIDBI for Rs. 1,58,70,199 on 23.06.2022, followed by withdrawal application on 25.06.2022. A financial creditor filed timely objection on 30.06.2022. NCLAT upheld NCLT's decision, ruling that adjudicating authority must consider relevant factors including nature and quantum of claims when deciding Section 12A applications before CoC formation. The tribunal emphasized that NCLT is not merely a post office and must evaluate objections on merit, considering overall facts and circumstances rather than applying any rigid formula. Case-Laws IBC Mon, 05 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=773938