Seeking withdrawal of application admitted u/s 7 of IBC - Considering the number of people dependant on...

Seeking withdrawal of application admitted u/s 7 of IBC - Considering the number of people dependant on the Corporate Debtor for their survival and livelihood, there is no reason why the applicant for the CIRP, should not be allowed to withdraw its application once its disputes have been settled - the settlement cannot be stifled before the constitution of the Committee of Creditors in anticipation of claims against the Corporate Debtor from third persons. The withdrawal of an application for CI..... .....

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