As per Rule 7 of Insolvency and Bankruptcy (Adjudicating Authority) Rules 2016, an application filed under Section 7 or 9 can be withdrawn prior to admission of the case in effect application, which means after admission of an application, an Operational Creditor or Financial Creditor cannot withdraw the application – PEC Ltd. Through Shri Indra Vikram Singh Vs. M/s. Sree Ramakrishna Alloys Ltd.- NCLAT New Delhi

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As per Rule 7 of Insolvency and Bankruptcy (Adjudicating Authority) Rules 2016, an application filed under Section 7 or 9 can be withdrawn prior to admission of the case in effect application, which means after admission of an application, an Operational Creditor or Financial Creditor cannot withdraw the application – PEC Ltd. Through Shri Indra Vikram Singh Vs. M/s. Sree Ramakrishna Alloys Ltd.- NCLAT New Delhi Read Post »