{"id":6038,"date":"2026-06-01T14:30:35","date_gmt":"2026-06-01T14:30:35","guid":{"rendered":"https:\/\/bhatiabhola.com\/?p=6038"},"modified":"2026-06-01T14:30:37","modified_gmt":"2026-06-01T14:30:37","slug":"ibbi-nclat-delhi-judgement-dated-11-05-2026-section-12a-withdrawal-not-permissible-after-liquidation-begins","status":"publish","type":"post","link":"https:\/\/bhatiabhola.com\/index.php\/blog\/2026\/06\/01\/ibbi-nclat-delhi-judgement-dated-11-05-2026-section-12a-withdrawal-not-permissible-after-liquidation-begins\/","title":{"rendered":"IBBI, NCLAT Delhi Judgement Dated 11\/05\/2026 &#8211; Section 12A Withdrawal not permissible after Liquidation Begins\u00a0"},"content":{"rendered":"\n<p><em>Case of Gokul Aggarwal vs Bank of India, NCLAT Delhi Judgement Dated 11<sup>th<\/sup>\u00a0May 2026.<\/em>\u00a0The appellate tribunal\u00a0clarified that Section 12A, which allows withdrawal of insolvency upon settlement, applies strictly during the CIRP phase. It is not permissible to invoke it after liquidation has been ordered.<\/p>\n\n\n\n<p><a href=\"https:\/\/drive.google.com\/file\/d\/1NOJSgPPZB8OHwDKnCUP161PjSPEk7LM6\/view?usp=sharing\"><em>(Link: NCLAT Delhi Judgement Dated 11\/05\/2026)<\/em><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Case of Gokul Aggarwal vs Bank of India, NCLAT Delhi Judgement Dated 11th\u00a0May 2026.\u00a0The appellate tribunal\u00a0clarified that Section 12A, which [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"enabled":false},"version":2}},"categories":[66,69],"tags":[],"class_list":["post-6038","post","type-post","status-publish","format-standard","hentry","category-ibbi","category-judiciary-ibbi"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>IBBI, NCLAT Delhi Judgement Dated 11\/05\/2026 - Section 12A Withdrawal not permissible after Liquidation Begins\u00a0 - Bhatia Bhola &amp; Associates LLP<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/bhatiabhola.com\/index.php\/blog\/2026\/06\/01\/ibbi-nclat-delhi-judgement-dated-11-05-2026-section-12a-withdrawal-not-permissible-after-liquidation-begins\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IBBI, NCLAT Delhi Judgement Dated 11\/05\/2026 - Section 12A Withdrawal not permissible after Liquidation Begins\u00a0 - Bhatia Bhola &amp; Associates LLP\" \/>\n<meta property=\"og:description\" content=\"Case of Gokul Aggarwal vs Bank of India, NCLAT Delhi Judgement Dated 11th\u00a0May 2026.\u00a0The appellate tribunal\u00a0clarified that Section 12A, which [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/bhatiabhola.com\/index.php\/blog\/2026\/06\/01\/ibbi-nclat-delhi-judgement-dated-11-05-2026-section-12a-withdrawal-not-permissible-after-liquidation-begins\/\" \/>\n<meta property=\"og:site_name\" content=\"Bhatia Bhola &amp; Associates LLP\" \/>\n<meta property=\"article:published_time\" content=\"2026-06-01T14:30:35+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-06-01T14:30:37+00:00\" \/>\n<meta name=\"author\" content=\"Yash Bhola\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Yash Bhola\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/bhatiabhola.com\/index.php\/blog\/2026\/06\/01\/ibbi-nclat-delhi-judgement-dated-11-05-2026-section-12a-withdrawal-not-permissible-after-liquidation-begins\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/bhatiabhola.com\/index.php\/blog\/2026\/06\/01\/ibbi-nclat-delhi-judgement-dated-11-05-2026-section-12a-withdrawal-not-permissible-after-liquidation-begins\/\"},\"author\":{\"name\":\"Yash Bhola\",\"@id\":\"https:\/\/bhatiabhola.com\/#\/schema\/person\/5c941d1613f06d46d7c656c473e8249c\"},\"headline\":\"IBBI, NCLAT Delhi Judgement Dated 11\/05\/2026 &#8211; Section 12A Withdrawal not permissible after Liquidation Begins\u00a0\",\"datePublished\":\"2026-06-01T14:30:35+00:00\",\"dateModified\":\"2026-06-01T14:30:37+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/bhatiabhola.com\/index.php\/blog\/2026\/06\/01\/ibbi-nclat-delhi-judgement-dated-11-05-2026-section-12a-withdrawal-not-permissible-after-liquidation-begins\/\"},\"wordCount\":65,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/bhatiabhola.com\/#organization\"},\"articleSection\":[\"IBBI\",\"IBBI Judiciary\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/bhatiabhola.com\/index.php\/blog\/2026\/06\/01\/ibbi-nclat-delhi-judgement-dated-11-05-2026-section-12a-withdrawal-not-permissible-after-liquidation-begins\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/bhatiabhola.com\/index.php\/blog\/2026\/06\/01\/ibbi-nclat-delhi-judgement-dated-11-05-2026-section-12a-withdrawal-not-permissible-after-liquidation-begins\/\",\"url\":\"https:\/\/bhatiabhola.com\/index.php\/blog\/2026\/06\/01\/ibbi-nclat-delhi-judgement-dated-11-05-2026-section-12a-withdrawal-not-permissible-after-liquidation-begins\/\",\"name\":\"IBBI, NCLAT Delhi Judgement Dated 11\/05\/2026 - Section 12A Withdrawal not permissible after Liquidation Begins\u00a0 - Bhatia Bhola &amp; Associates LLP\",\"isPartOf\":{\"@id\":\"https:\/\/bhatiabhola.com\/#website\"},\"datePublished\":\"2026-06-01T14:30:35+00:00\",\"dateModified\":\"2026-06-01T14:30:37+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/bhatiabhola.com\/index.php\/blog\/2026\/06\/01\/ibbi-nclat-delhi-judgement-dated-11-05-2026-section-12a-withdrawal-not-permissible-after-liquidation-begins\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/bhatiabhola.com\/index.php\/blog\/2026\/06\/01\/ibbi-nclat-delhi-judgement-dated-11-05-2026-section-12a-withdrawal-not-permissible-after-liquidation-begins\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/bhatiabhola.com\/index.php\/blog\/2026\/06\/01\/ibbi-nclat-delhi-judgement-dated-11-05-2026-section-12a-withdrawal-not-permissible-after-liquidation-begins\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/bhatiabhola.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"IBBI, NCLAT Delhi Judgement Dated 11\/05\/2026 &#8211; Section 12A Withdrawal not permissible after Liquidation Begins\u00a0\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/bhatiabhola.com\/#website\",\"url\":\"https:\/\/bhatiabhola.com\/\",\"name\":\"Bhatia Bhola & Associates LLP\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\/\/bhatiabhola.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/bhatiabhola.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/bhatiabhola.com\/#organization\",\"name\":\"Bhatia Bhola & Associates LLP\",\"url\":\"https:\/\/bhatiabhola.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/bhatiabhola.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/bhatiabhola.com\/wp-content\/uploads\/2025\/04\/cropped-cropped-Screenshot-2025-04-29-at-7.15.27\u202fAM.png\",\"contentUrl\":\"https:\/\/bhatiabhola.com\/wp-content\/uploads\/2025\/04\/cropped-cropped-Screenshot-2025-04-29-at-7.15.27\u202fAM.png\",\"width\":1709,\"height\":376,\"caption\":\"Bhatia Bhola & Associates LLP\"},\"image\":{\"@id\":\"https:\/\/bhatiabhola.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/bhatiabhola.com\/#\/schema\/person\/5c941d1613f06d46d7c656c473e8249c\",\"name\":\"Yash Bhola\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/bhatiabhola.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/aead41d7b2f010c8a719d781a6360aab0ad14fcb72ed48e049d2bbe80a30a6f8?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/aead41d7b2f010c8a719d781a6360aab0ad14fcb72ed48e049d2bbe80a30a6f8?s=96&d=mm&r=g\",\"caption\":\"Yash Bhola\"},\"url\":\"https:\/\/bhatiabhola.com\/index.php\/blog\/author\/bba_ypbhola\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"IBBI, NCLAT Delhi Judgement Dated 11\/05\/2026 - Section 12A Withdrawal not permissible after Liquidation Begins\u00a0 - Bhatia Bhola &amp; Associates LLP","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/bhatiabhola.com\/index.php\/blog\/2026\/06\/01\/ibbi-nclat-delhi-judgement-dated-11-05-2026-section-12a-withdrawal-not-permissible-after-liquidation-begins\/","og_locale":"en_US","og_type":"article","og_title":"IBBI, NCLAT Delhi Judgement Dated 11\/05\/2026 - Section 12A Withdrawal not permissible after Liquidation Begins\u00a0 - Bhatia Bhola &amp; Associates LLP","og_description":"Case of Gokul Aggarwal vs Bank of India, NCLAT Delhi Judgement Dated 11th\u00a0May 2026.\u00a0The appellate tribunal\u00a0clarified that Section 12A, which [&hellip;]","og_url":"https:\/\/bhatiabhola.com\/index.php\/blog\/2026\/06\/01\/ibbi-nclat-delhi-judgement-dated-11-05-2026-section-12a-withdrawal-not-permissible-after-liquidation-begins\/","og_site_name":"Bhatia Bhola &amp; Associates LLP","article_published_time":"2026-06-01T14:30:35+00:00","article_modified_time":"2026-06-01T14:30:37+00:00","author":"Yash Bhola","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Yash Bhola","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/bhatiabhola.com\/index.php\/blog\/2026\/06\/01\/ibbi-nclat-delhi-judgement-dated-11-05-2026-section-12a-withdrawal-not-permissible-after-liquidation-begins\/#article","isPartOf":{"@id":"https:\/\/bhatiabhola.com\/index.php\/blog\/2026\/06\/01\/ibbi-nclat-delhi-judgement-dated-11-05-2026-section-12a-withdrawal-not-permissible-after-liquidation-begins\/"},"author":{"name":"Yash Bhola","@id":"https:\/\/bhatiabhola.com\/#\/schema\/person\/5c941d1613f06d46d7c656c473e8249c"},"headline":"IBBI, NCLAT Delhi Judgement Dated 11\/05\/2026 &#8211; Section 12A Withdrawal not permissible after Liquidation Begins\u00a0","datePublished":"2026-06-01T14:30:35+00:00","dateModified":"2026-06-01T14:30:37+00:00","mainEntityOfPage":{"@id":"https:\/\/bhatiabhola.com\/index.php\/blog\/2026\/06\/01\/ibbi-nclat-delhi-judgement-dated-11-05-2026-section-12a-withdrawal-not-permissible-after-liquidation-begins\/"},"wordCount":65,"commentCount":0,"publisher":{"@id":"https:\/\/bhatiabhola.com\/#organization"},"articleSection":["IBBI","IBBI Judiciary"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/bhatiabhola.com\/index.php\/blog\/2026\/06\/01\/ibbi-nclat-delhi-judgement-dated-11-05-2026-section-12a-withdrawal-not-permissible-after-liquidation-begins\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/bhatiabhola.com\/index.php\/blog\/2026\/06\/01\/ibbi-nclat-delhi-judgement-dated-11-05-2026-section-12a-withdrawal-not-permissible-after-liquidation-begins\/","url":"https:\/\/bhatiabhola.com\/index.php\/blog\/2026\/06\/01\/ibbi-nclat-delhi-judgement-dated-11-05-2026-section-12a-withdrawal-not-permissible-after-liquidation-begins\/","name":"IBBI, NCLAT Delhi Judgement Dated 11\/05\/2026 - Section 12A Withdrawal not permissible after Liquidation Begins\u00a0 - Bhatia Bhola &amp; Associates LLP","isPartOf":{"@id":"https:\/\/bhatiabhola.com\/#website"},"datePublished":"2026-06-01T14:30:35+00:00","dateModified":"2026-06-01T14:30:37+00:00","breadcrumb":{"@id":"https:\/\/bhatiabhola.com\/index.php\/blog\/2026\/06\/01\/ibbi-nclat-delhi-judgement-dated-11-05-2026-section-12a-withdrawal-not-permissible-after-liquidation-begins\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/bhatiabhola.com\/index.php\/blog\/2026\/06\/01\/ibbi-nclat-delhi-judgement-dated-11-05-2026-section-12a-withdrawal-not-permissible-after-liquidation-begins\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/bhatiabhola.com\/index.php\/blog\/2026\/06\/01\/ibbi-nclat-delhi-judgement-dated-11-05-2026-section-12a-withdrawal-not-permissible-after-liquidation-begins\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/bhatiabhola.com\/"},{"@type":"ListItem","position":2,"name":"IBBI, NCLAT Delhi Judgement Dated 11\/05\/2026 &#8211; Section 12A Withdrawal not permissible after Liquidation Begins\u00a0"}]},{"@type":"WebSite","@id":"https:\/\/bhatiabhola.com\/#website","url":"https:\/\/bhatiabhola.com\/","name":"Bhatia Bhola & Associates LLP","description":"","publisher":{"@id":"https:\/\/bhatiabhola.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/bhatiabhola.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/bhatiabhola.com\/#organization","name":"Bhatia Bhola & Associates LLP","url":"https:\/\/bhatiabhola.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/bhatiabhola.com\/#\/schema\/logo\/image\/","url":"https:\/\/bhatiabhola.com\/wp-content\/uploads\/2025\/04\/cropped-cropped-Screenshot-2025-04-29-at-7.15.27\u202fAM.png","contentUrl":"https:\/\/bhatiabhola.com\/wp-content\/uploads\/2025\/04\/cropped-cropped-Screenshot-2025-04-29-at-7.15.27\u202fAM.png","width":1709,"height":376,"caption":"Bhatia Bhola & Associates LLP"},"image":{"@id":"https:\/\/bhatiabhola.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/bhatiabhola.com\/#\/schema\/person\/5c941d1613f06d46d7c656c473e8249c","name":"Yash Bhola","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/bhatiabhola.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/aead41d7b2f010c8a719d781a6360aab0ad14fcb72ed48e049d2bbe80a30a6f8?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/aead41d7b2f010c8a719d781a6360aab0ad14fcb72ed48e049d2bbe80a30a6f8?s=96&d=mm&r=g","caption":"Yash Bhola"},"url":"https:\/\/bhatiabhola.com\/index.php\/blog\/author\/bba_ypbhola\/"}]}},"jetpack_publicize_connections":[],"_links":{"self":[{"href":"https:\/\/bhatiabhola.com\/index.php\/wp-json\/wp\/v2\/posts\/6038","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bhatiabhola.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bhatiabhola.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bhatiabhola.com\/index.php\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/bhatiabhola.com\/index.php\/wp-json\/wp\/v2\/comments?post=6038"}],"version-history":[{"count":1,"href":"https:\/\/bhatiabhola.com\/index.php\/wp-json\/wp\/v2\/posts\/6038\/revisions"}],"predecessor-version":[{"id":6039,"href":"https:\/\/bhatiabhola.com\/index.php\/wp-json\/wp\/v2\/posts\/6038\/revisions\/6039"}],"wp:attachment":[{"href":"https:\/\/bhatiabhola.com\/index.php\/wp-json\/wp\/v2\/media?parent=6038"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bhatiabhola.com\/index.php\/wp-json\/wp\/v2\/categories?post=6038"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bhatiabhola.com\/index.php\/wp-json\/wp\/v2\/tags?post=6038"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}