The Corporate Insolvency Resolution Process (CIRP) was initiated against Empathy Infra & Engineering Pvt. Ltd. (corporate debtor) based on an application filed by Bhuleshwar Steel & Alloys Pvt. Ltd. (operational creditor). The application, CP (IB) No.234/Chd/Hry/2018, was admitted by the Adjudicating Authority on December 19, 2019. Despite the admission, no Committee of Creditors (CoC) was constituted because no claims were received from any financial or operational creditors. Subsequently, a belated claim was received from an operational creditor, but it was not admitted. At this juncture, the operational creditor and the corporate debtor reached a settlement. Following this settlement, an application was submitted seeking the withdrawal of the CIRP.

The Corporate Insolvency Resolution Process (CIRP) was initiated against Empathy Infra & Engineering Pvt. Ltd. (corporate debtor) based on an application filed by Bhuleshwar Steel & Alloys Pvt. Ltd. (operational creditor). The application, CP (IB) No.234/Chd/Hry/2018, was admitted by the Adjudicating Authority on December 19, 2019. Despite the admission, no Committee of Creditors (CoC) was constituted because no claims were received from any financial or operational creditors. Subsequently, a belated claim was received from an operational creditor, but it was not admitted. At this juncture, the operational creditor and the corporate debtor reached a settlement. Following this settlement, an application was submitted seeking the withdrawal of the CIRP.