https://www.taxtmi.com/caselaws?id=797204 An unsuccessful scheme proponent may withdraw after its proposed scheme is not accepted and the matter is remitted for fresh consideration. An earnest money deposit guarantee secures submission of the proponent's scheme; it does not, without a valid legal basis, oblige the proponent to continue formulating or pursuing a revised scheme acceptable to the committee of creditors or the Adjudicating Authority. Recovery of the guarantee for the liquidation estate is unsustainable where the proponent lawfully exercises its commercial choice to withdraw and no enforceable basis for forfeiture is established. en-us Mon, 17 Aug 2026 00:00:00 +0530 Wed, 19 Aug 2026 11:58:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=797204 An unsuccessful scheme proponent may withdraw after its proposed scheme is not accepted and the matter is remitted for fresh consideration. An earnest money deposit guarantee secures submission of the proponent's scheme; it does not, without a valid legal basis, oblige the proponent to continue formulating or pursuing a revised scheme acceptable to the committee of creditors or the Adjudicating Authority. Recovery of the guarantee for the liquidation estate is unsustainable where the proponent lawfully exercises its commercial choice to withdraw and no enforceable basis for forfeiture is established. Case-Laws IBC Mon, 17 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=797204