Sole Financial Creditor Cannot Consider One-Time Settlement Request After Initiation of CIRP Proceedings: Telangana High Court

In a recent judgment, the Insolvency and Bankruptcy Code (IBC) and its provisions were critically examined in the context of the Corporate Insolvency Resolution Process (CIRP), focusing on the withdrawal of an application under Section 12A and the maintainability of a writ petition after the Committee of Creditors (CoC) has approved the Resolution Plan. Withdrawal of Application Post-Admission under Section 12A of IBC The Section 12A of the Insolvency and…