National Company Law Tribunal, Chandigarh: In an instant application filed by the applicant, under Section 59, 60(5) and other applicable provisions of the Insolvency and Bankruptcy Code, 2016 (IBC), read with Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017 (‘Voluntary Liquidation Regulations’) for withdrawal of voluntary liquidation of the Company, the Bench of Harnam Singh Thakur, Member (Judicial) and Shishir Agarwal, Member (Technical), stated that in an exceptional cases, where the liquidation was initiated voluntarily and is now sought to be withdrawn by the same consenting stakeholders, and no third-party rights are affected, inherent powers of the Tribunal under Rule 11 of the
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