https://www.taxtmi.com/caselaws?id=798802 Liquidation under Section 33(1) requires the resolution professional to make an independent, objective assessment consistent with the insolvency framework; reliance on informal creditor communication without Committee of Creditors deliberation, where no creditor voted for liquidation, renders liquidation unsustainable. Withdrawal under Section 12A forms a settlement-based insolvency exit alongside resolution plans and liquidation. Where a viable one-time settlement is being implemented and financial debts have been substantially addressed, the CIRP timeline is directory and extensions may support consideration of withdrawal. The CIRP is restored to explore Section 12A withdrawal, preserving the corporate debtor as a going concern rather than proceeding to liquidation. en-us Mon, 24 Aug 2026 00:00:00 +0530 Sat, 12 Sep 2026 08:41:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=798802 Liquidation under Section 33(1) requires the resolution professional to make an independent, objective assessment consistent with the insolvency framework; reliance on informal creditor communication without Committee of Creditors deliberation, where no creditor voted for liquidation, renders liquidation unsustainable. Withdrawal under Section 12A forms a settlement-based insolvency exit alongside resolution plans and liquidation. Where a viable one-time settlement is being implemented and financial debts have been substantially addressed, the CIRP timeline is directory and extensions may support consideration of withdrawal. The CIRP is restored to explore Section 12A withdrawal, preserving the corporate debtor as a going concern rather than proceeding to liquidation. Case-Laws IBC Mon, 24 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=798802