The Corporate Insolvency Resolution Process (CIRP) was initiated at the instance of an Operational Creditor. The Committee of Creditors (COC) comprised only one member, the same Operational Creditor. The COC passed a resolution to terminate the CIRP. The Resolution Professional (RP) then filed an application (CA 771/2018) to the National Company Law Tribunal (NCLT) to record the COC's resolution and terminate the CIRP. The RP's counsel submitted that the application was filed in view of the COC's resolution. The NCLT allowed the application and terminated the CIRP. The settlement and compromise between the parties resulted in the claim of the Operational Creditor being fully satisfied.

The Corporate Insolvency Resolution Process (CIRP) was initiated at the instance of an Operational Creditor. The Committee of Creditors (COC) comprised only one member, the same Operational Creditor. The COC passed a resolution to terminate the CIRP. The Resolution Professional (RP) then filed an application (CA 771/2018) to the National Company Law Tribunal (NCLT) to record the COC's resolution and terminate the CIRP. The RP's counsel submitted that the application was filed in view of the COC's resolution. The NCLT allowed the application and terminated the CIRP. The settlement and compromise between the parties resulted in the claim of the Operational Creditor being fully satisfied.