https://www.taxtmi.com/highlights?id=103677 Section 12A withdrawal through settlement is presented as an integral insolvency-resolution exit route, alongside resolution plans and liquidation. Where a viable settlement and repayment process exists, the resolution professional must independently and objectively consider extending CIRP, including use of the period up to the 330-day outer limit where appropriate, rather than prematurely seek liquidation. A resolution professional cannot rely on Registry advice regarding relief or privately consult an individual Committee of Creditors member instead of convening the Committee. Such non-independent decision-making renders a liquidation application under Section 33(1) legally unsustainable. The liquidation order was set aside, and CIRP was restored to explore settlement-based withdrawal. en-us Sat, 12 Sep 2026 08:41:33 +0530 Sat, 12 Sep 2026 08:41:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=103677 Section 12A withdrawal through settlement is presented as an integral insolvency-resolution exit route, alongside resolution plans and liquidation. Where a viable settlement and repayment process exists, the resolution professional must independently and objectively consider extending CIRP, including use of the period up to the 330-day outer limit where appropriate, rather than prematurely seek liquidation. A resolution professional cannot rely on Registry advice regarding relief or privately consult an individual Committee of Creditors member instead of convening the Committee. Such non-independent decision-making renders a liquidation application under Section 33(1) legally unsustainable. The liquidation order was set aside, and CIRP was restored to explore settlement-based withdrawal. Highlights IBC Sat, 12 Sep 2026 08:41:33 +0530 https://www.taxtmi.com/highlights?id=103677