https://www.taxtmi.com/highlights?id=105877 Operational creditors with independent claims below the Section 4 threshold cannot use intervention in another creditor's insolvency proceedings to pursue those claims. Intervention in a settlement-based withdrawal under Section 12A requires a prima facie likelihood that the applicant will be affected or a legally sustainable right hampered. Unlike impleadment, intervention confers a right to be heard but not to raise pleadings, pursue an independent claim or seek relief. Settlement and withdrawal between the petitioning parties do not prevent an independent creditor from pursuing a sustainable claim through appropriate civil proceedings. en-us Fri, 06 Nov 2026 09:30:15 +0530 Fri, 06 Nov 2026 09:30:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=105877 Operational creditors with independent claims below the Section 4 threshold cannot use intervention in another creditor's insolvency proceedings to pursue those claims. Intervention in a settlement-based withdrawal under Section 12A requires a prima facie likelihood that the applicant will be affected or a legally sustainable right hampered. Unlike impleadment, intervention confers a right to be heard but not to raise pleadings, pursue an independent claim or seek relief. Settlement and withdrawal between the petitioning parties do not prevent an independent creditor from pursuing a sustainable claim through appropriate civil proceedings. Highlights IBC Fri, 06 Nov 2026 09:30:15 +0530 https://www.taxtmi.com/highlights?id=105877