https://www.taxtmi.com/caselaws?id=801929 Section 12A of the Insolvency and Bankruptcy Code and Regulation 30A prescribe the mechanism for withdrawal of the corporate insolvency resolution process. In an appeal limited to directions for cooperation with the resolution professional, Rule 11 inherent powers cannot be invoked to permit deposit of an admitted debt, defer resolution-plan steps, or secure closure outside that mechanism. A financial creditor cannot be compelled to accept a settlement or terminate the process. Seeking substantially identical relief before another forum while an application remains pending constitutes forum shopping and abuse of process, particularly because insolvency proceedings operate in rem. en-us Tue, 27 Oct 2026 00:00:00 +0530 Thu, 29 Oct 2026 06:33:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=801929 Section 12A of the Insolvency and Bankruptcy Code and Regulation 30A prescribe the mechanism for withdrawal of the corporate insolvency resolution process. In an appeal limited to directions for cooperation with the resolution professional, Rule 11 inherent powers cannot be invoked to permit deposit of an admitted debt, defer resolution-plan steps, or secure closure outside that mechanism. A financial creditor cannot be compelled to accept a settlement or terminate the process. Seeking substantially identical relief before another forum while an application remains pending constitutes forum shopping and abuse of process, particularly because insolvency proceedings operate in rem. Case-Laws IBC Tue, 27 Oct 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=801929