Section 12A: Withdrawal of application admitted under section 7, 9 or 10

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The Insolvency and Bankruptcy Code, 2016

PART II
Insolvency Resolution and Liquidation for Corporate Persons

CHAPTER II
Corporate Insolvency Resolution Process(CIRP)

Section 12A: Withdrawal of application admitted under section 7, 9 or 10:

1[12A. The Adjudicating Authority may allow the withdrawal of application admitted under section 7 or section 9 or section 10, on an application made by the applicant with the approval of ninety per cent. voting share of the committee of creditors, in such manner as may be prescribed.]


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Amendments:

1.  Section 12A inserted by the Insolvency and Bankruptcy Code (Second Amendment) Act, 2018. (w.e.f. 06.06.2018).

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