The Corporate Insolvency Resolution Process (CIRP) was initiated against ICAP IL India Pvt. Ltd. The petition was admitted on April 2, 2019. However, within two days of the admission, the parties reached a compromise. No public announcement was made, and no Committee of Creditors (COC) was formed. The Operational Creditor submitted an affidavit confirming that their claims had been settled in full and final satisfaction. The parties jointly requested the termination of the CIRP. The court considered the settlement and the stage of the CIRP, where no COC had been formed, and the expenses of the IRP had been reimbursed.

The Corporate Insolvency Resolution Process (CIRP) was initiated against ICAP IL India Pvt. Ltd. The petition was admitted on April 2, 2019. However, within two days of the admission, the parties reached a compromise. No public announcement was made, and no Committee of Creditors (COC) was formed. The Operational Creditor submitted an affidavit confirming that their claims had been settled in full and final satisfaction. The parties jointly requested the termination of the CIRP. The court considered the settlement and the stage of the CIRP, where no COC had been formed, and the expenses of the IRP had been reimbursed.