Mr. Vishal Kaushik initiated a Corporate Insolvency Resolution Process (CIRP) against M/s. EMU Lines Private Limited under Section 9 of the IBC Code, 2016. A joint application was filed by the parties to terminate the CIRP. The petitioner's claim was settled in full with a demand draft of Rs. 69,634 tendered on October 16, 2019, and accepted by the Operational Creditor. The petitioner expressed no further interest in pursuing the CIRP. The Interim Resolution Professional (IRP), Mr. Ashok Kriplani, had not taken any steps, and no Committee of Creditors (COC) was constituted. The NCLT considered the application, noting the settlement and lack of progress in the CIRP. The NCLT allowed the prayer of the applicant and terminated the CIRP, releasing the Corporate Debtor from

Mr. Vishal Kaushik initiated a Corporate Insolvency Resolution Process (CIRP) against M/s. EMU Lines Private Limited under Section 9 of the IBC Code, 2016. A joint application was filed by the parties to terminate the CIRP. The petitioner's claim was settled in full with a demand draft of Rs. 69,634 tendered on October 16, 2019, and accepted by the Operational Creditor. The petitioner expressed no further interest in pursuing the CIRP. The Interim Resolution Professional (IRP), Mr. Ashok Kriplani, had not taken any steps, and no Committee of Creditors (COC) was constituted. The NCLT considered the application, noting the settlement and lack of progress in the CIRP. The NCLT allowed the prayer of the applicant and terminated the CIRP, releasing the Corporate Debtor from