By Adv. Amir Bavani and Adv. Rishika Kumar, AB Legal

Introduced by the legislature in 2016, Insolvency & Bankruptcy Code (‘IBC/Code’), since then have undergone some major changes which intends towards filling the lacunae in the framework as and when identified by the Hon’ble Apex Court of the country. In the recent times, one of the essential evolutions in the framework is with respect to the withdrawal of the Corporate Insolvency Resolution Process (‘CIRP’) after the admission.

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