https://www.taxtmi.com/caselaws?id=799402 Section 12A provides the statutory route for withdrawing an admitted insolvency application through an application by the resolution professional, subject to its prescribed conditions and restrictions. A post-admission settlement, including one reached before constitution of the Committee of Creditors and accepted by the operational creditor, does not itself nullify the admission order. Rule 11 cannot be used to bypass Section 12A by directly setting aside that order. The interim resolution professional may place the settlement before the Adjudicating Authority through an appropriate Section 12A application for consideration under law. en-us Fri, 18 Sep 2026 00:00:00 +0530 Tue, 22 Sep 2026 08:17:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=799402 Section 12A provides the statutory route for withdrawing an admitted insolvency application through an application by the resolution professional, subject to its prescribed conditions and restrictions. A post-admission settlement, including one reached before constitution of the Committee of Creditors and accepted by the operational creditor, does not itself nullify the admission order. Rule 11 cannot be used to bypass Section 12A by directly setting aside that order. The interim resolution professional may place the settlement before the Adjudicating Authority through an appropriate Section 12A application for consideration under law. Case-Laws IBC Fri, 18 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=799402