Nirmaljit Sidhu & Another, the Petitioners-Financial Creditors, initiated a Corporate Insolvency Resolution Process (CIRP) against Blue Coast Infrastructure Development Pvt. Ltd., the Respondent-Corporate Debtor, by filing CP (IB) No. 16/Chd/HP/2019 under Section 7 of the Insolvency & Bankruptcy Code, 2016. Subsequently, the parties reached a settlement agreement. IA No. 84/2022 was filed seeking withdrawal of the CIRP application based on this settlement. The learned counsel for the petitioner stated that the parties had arrived at a settlement and requested permission to withdraw the CP (IB) No. 16/Chd/HP/2019. The court considered the settlement agreement and the statement of the counsel.

Nirmaljit Sidhu & Another, the Petitioners-Financial Creditors, initiated a Corporate Insolvency Resolution Process (CIRP) against Blue Coast Infrastructure Development Pvt. Ltd., the Respondent-Corporate Debtor, by filing CP (IB) No. 16/Chd/HP/2019 under Section 7 of the Insolvency & Bankruptcy Code, 2016. Subsequently, the parties reached a settlement agreement. IA No. 84/2022 was filed seeking withdrawal of the CIRP application based on this settlement. The learned counsel for the petitioner stated that the parties had arrived at a settlement and requested permission to withdraw the CP (IB) No. 16/Chd/HP/2019. The court considered the settlement agreement and the statement of the counsel.