https://www.taxtmi.com/caselaws?id=775713 The NCLAT held that an application for withdrawal of CIRP under Section 12A filed before the constitution of the CoC does not require 90% CoC approval, per Regulation 30A(1)(a), but if filed after CoC constitution, Section 12A's approval requirement applies fully. The Tribunal rejected the appellant's argument relying solely on the Supreme Court's order, clarifying that the application filed on 14.11.2024 was after CoC constitution on 21.08.2024, thus requiring CoC approval. The appellant's failure to challenge the IRP's conduct before the Tribunal was noted. Finding no merit in the appeals, the NCLAT dismissed both. en-us Thu, 17 Apr 2025 00:00:00 +0530 Wed, 30 Jul 2025 08:21:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=775713 The NCLAT held that an application for withdrawal of CIRP under Section 12A filed before the constitution of the CoC does not require 90% CoC approval, per Regulation 30A(1)(a), but if filed after CoC constitution, Section 12A's approval requirement applies fully. The Tribunal rejected the appellant's argument relying solely on the Supreme Court's order, clarifying that the application filed on 14.11.2024 was after CoC constitution on 21.08.2024, thus requiring CoC approval. The appellant's failure to challenge the IRP's conduct before the Tribunal was noted. Finding no merit in the appeals, the NCLAT dismissed both. Case-Laws IBC Thu, 17 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=775713