The Court allowed withdrawal of Corporate Insolvency Resolution Process against a builder in an application filed by three home buyers in view of a settlement plan agreed upon by the majority of them - this provision is to regulate the company - not to kill the same.

Insolvency and Bankruptcy Code, 2016 - The Court allowed withdrawal of Corporate Insolvency Resolution Process against a builder in an application filed by three homebuyers in view of a settlement plan agreed upon by the majority of them. In the larger interest of the homebuyers, the Apex Court exercised power under Article 142 to permit withdrawal of the CIRP proceedings and set aside all matters pending between the parties. 

Amit Katyal v. Meera Ahuja, 2022 LiveLaw (SC) 259 : AIR 2022 SC 1433