https://www.taxtmi.com/highlights?id=97414 The Tribunal excused a 14 day delay because the financial creditor showed sufficient cause-internal referral and head office approval-so the appeal was admitted. On the central issue of costs imposed when the corporate debtor withdrew under the insolvency withdrawal procedure, the Tribunal found no recorded reason for penalising financial creditors who negotiated settlements and facilitated withdrawal; noting other creditors had not objected, it held the Adjudicating Authority could have adopted alternative measures if withdrawal was improper. Consequently, the direction to impose costs on each financial creditor was set aside. en-us Thu, 05 Mar 2026 08:41:17 +0530 Thu, 05 Mar 2026 08:41:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=97414 The Tribunal excused a 14 day delay because the financial creditor showed sufficient cause-internal referral and head office approval-so the appeal was admitted. On the central issue of costs imposed when the corporate debtor withdrew under the insolvency withdrawal procedure, the Tribunal found no recorded reason for penalising financial creditors who negotiated settlements and facilitated withdrawal; noting other creditors had not objected, it held the Adjudicating Authority could have adopted alternative measures if withdrawal was improper. Consequently, the direction to impose costs on each financial creditor was set aside. Highlights IBC Thu, 05 Mar 2026 08:41:17 +0530 https://www.taxtmi.com/highlights?id=97414