Withdrawal of application u/s. 12A of IBC before it is heard or allowed is permissible

Mehul Patel Vs Nandish S. Vin & Anr. (NCLAT Delhi)

NCLAT Delhi held that withdrawal of application under section 12A of the Insolvency and Bankruptcy Code [IBC] much before application filed u/s. 12A could be heard or allowed in permissible.

Facts- On an application filed by an Operational Creditor- Ispat Traders (India) Pvt. Ltd. u/s. 9 of the IBC. CIRP against the Corporate Debtor commenced vide order dated 09.04.2024. On 17.04.2024, Resolution Professional issued public announcement calling upon creditors to submit their claims. Three Unsecured Financ

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