Withdrawal application after CoC approval to resolution plan is unsustainable

Hem Singh Bharana Vs Pawan Doot Estate Private Limited (NCLAT Delhi) NCLAT Delhi held that withdrawal application under section 12A of the Insolvency & Bankruptcy Code, 2016 unsustainable once CoC (Committee of Creditors) approves a resolution plan. Facts- On 10.05.2019, CIRP was initiated against the Corporate Debtor – Pawan Doot Estate Pvt. Ltd. by an order passed by the Adjudicating Authority. On 13.07.2019, advertisement was issued inviting Expression of Interest. Only one Resolution Plan was received, which was presented by Resolution Professional (RP) in the 10th Meeting of Com...