1 August 2022


NCLT Says 'No' to Withdrawal of Petition Even After Parties Proposed Settlement - 01.06.2017

NCLT has held that after admission of petition, it acquires character of representative suit wherein other creditors get a right to participate in insolvency resolution process, and therefore, petition cannot be dismissed on basis of compromise between operational creditor and corporate debtor.

Tags : NCLT Settlement

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