Shri Gunit Pal Singh Sidana, an operational creditor of M/s Bhandari Hosiery Exports Limited, initiated Corporate Insolvency Resolution Process (CIRP) against the company by filing CP (IB) No. 361/Chd/Pb/2018, which was admitted on 10.02.2020. Subsequently, a settlement was reached between the operational creditor and the corporate debtor. As a result of the settlement, the operational creditor submitted Form FA to the Interim Resolution Professional (IRP) seeking withdrawal of the CIRP petition. The IRP then filed IA No. 73/2020 seeking withdrawal of the CIRP under Section 12-A of the Insolvency and Bankruptcy Code, 2016. The Committee of Creditors (COC) had not been constituted by this time. The operational creditor also paid the expenses as per Regulation 30 A(2).

Shri Gunit Pal Singh Sidana, an operational creditor of M/s Bhandari Hosiery Exports Limited, initiated Corporate Insolvency Resolution Process (CIRP) against the company by filing CP (IB) No. 361/Chd/Pb/2018, which was admitted on 10.02.2020. Subsequently, a settlement was reached between the operational creditor and the corporate debtor. As a result of the settlement, the operational creditor submitted Form FA to the Interim Resolution Professional (IRP) seeking withdrawal of the CIRP petition. The IRP then filed IA No. 73/2020 seeking withdrawal of the CIRP under Section 12-A of the Insolvency and Bankruptcy Code, 2016. The Committee of Creditors (COC) had not been constituted by this time. The operational creditor also paid the expenses as per Regulation 30 A(2).