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NCLAT sets aside Sterling Biotech liquidation, allows its promoters to take back control of the company

September 4, 2019[2019] 109 30 (NCL-AT)

IBC : Where application filed for withdrawal of CIRP under section 12A by promoter was approved by Committee of Creditors by more than 90 per cent voting share, same could not be rejected on ground that 'Promoter' not eligible to file 'resolution plan' under section 29A cannot file application under section 12A

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