https://www.taxtmi.com/caselaws?id=798452 Section 12A of the Insolvency and Bankruptcy Code, read with Regulation 30A, ordinarily requires an initiating applicant to seek CIRP withdrawal in Form FA, with prescribed creditor approval and security for CIRP costs. Where creditor claims have been settled or agreed to be settled, but CIRP costs remain uncrystallised and the required bank guarantee cannot be furnished, those formalities may create a procedural stalemate. In exceptional circumstances, continuation of CIRP may be unwarranted where no resolution plan is available and the Resolution Professional's entitlement to CIRP costs remains protected through pending adjudication and a binding undertaking to pay the determined costs. en-us Mon, 07 Sep 2026 00:00:00 +0530 Tue, 08 Sep 2026 08:42:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=798452 Section 12A of the Insolvency and Bankruptcy Code, read with Regulation 30A, ordinarily requires an initiating applicant to seek CIRP withdrawal in Form FA, with prescribed creditor approval and security for CIRP costs. Where creditor claims have been settled or agreed to be settled, but CIRP costs remain uncrystallised and the required bank guarantee cannot be furnished, those formalities may create a procedural stalemate. In exceptional circumstances, continuation of CIRP may be unwarranted where no resolution plan is available and the Resolution Professional's entitlement to CIRP costs remains protected through pending adjudication and a binding undertaking to pay the determined costs. Case-Laws IBC Mon, 07 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=798452