TMI BlogWithdrawal of petition - Applicant and the Debtor Company have never been qualified as a “Wilful...Withdrawal of petition - Applicant and the Debtor Company have never been qualified as a “Wilful defaulter” - Section 12A prescribes that the Adjudicating Authority may allow the withdrawal of application with the approval of 90% voting share of the CoC - first time in the two and half years (Approx.) that a Resolution Applicant is withdrawing a Resolution Plan which is approved by the CoC with majority vote - application allowed ..... X X X X Extracts X X X X X X X X Extracts X X X X
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