Insolvency Proceedings Can Be Withdrawn Even After Invitation Of Resolution Plans Under Regulation 36A : SC [Read Order]

In a notable order passed recently, the Supreme Court permitted the withdrawal of Corporate Insolvency Resolution Process(CIRP) even after the Resolution Professional issued invitation for expression of interest from resolution applicants to submit resolution plans under Regulation 36A of CIRP Regulations 2016.As per Regulation 30A, withdrawal of insolvency application has to be sought before...