https://www.taxtmi.com/caselaws?id=797652 Withdrawal of a CIRP admitted under Section 9 is governed by the amended Section 12A framework, which does not permit the Appellate Tribunal to close proceedings on a post-admission settlement before the Committee of Creditors is constituted. A settlement executed after CIRP commencement, even where it contemplates closure subject to the Insolvency and Bankruptcy Code, cannot independently support closure in appeal. Authorities concerning settlements concluded before CIRP admission do not apply under the amended position. The IRP may instead seek withdrawal before the Adjudicating Authority under Section 12A. en-us Mon, 24 Aug 2026 00:00:00 +0530 Wed, 26 Aug 2026 08:27:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=797652 Withdrawal of a CIRP admitted under Section 9 is governed by the amended Section 12A framework, which does not permit the Appellate Tribunal to close proceedings on a post-admission settlement before the Committee of Creditors is constituted. A settlement executed after CIRP commencement, even where it contemplates closure subject to the Insolvency and Bankruptcy Code, cannot independently support closure in appeal. Authorities concerning settlements concluded before CIRP admission do not apply under the amended position. The IRP may instead seek withdrawal before the Adjudicating Authority under Section 12A. Case-Laws IBC Mon, 24 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=797652