Withdrawal of petition - Applicant and the Debtor Company have ...

Insolvency and Bankruptcy

May 30, 2019

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

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Withdrawal of petition - Applicant and the Debtor Company have ...

Insolvency and Bankruptcy

May 30, 2019

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