Medsource Healthcare Pvt. Ltd., the operational creditor, initiated a Corporate Insolvency Resolution Process (CIRP) against Fortis Healthcare Ltd., the corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The CIRP was registered as CP (IB) No. 113/Chd/Pb/2021. Subsequently, the parties reached a settlement, and an application (IA No. 116/2022) was filed for the withdrawal of the CIRP. The entire payment as per the settlement was made, and the learned counsel for both parties jointly submitted that no amount remained due. The settlement agreement was placed on record, and the application was supported by an affidavit. The key fact is the settlement between the parties, leading to the operational creditor's request to withdraw the CIRP.

Medsource Healthcare Pvt. Ltd., the operational creditor, initiated a Corporate Insolvency Resolution Process (CIRP) against Fortis Healthcare Ltd., the corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The CIRP was registered as CP (IB) No. 113/Chd/Pb/2021. Subsequently, the parties reached a settlement, and an application (IA No. 116/2022) was filed for the withdrawal of the CIRP. The entire payment as per the settlement was made, and the learned counsel for both parties jointly submitted that no amount remained due. The settlement agreement was placed on record, and the application was supported by an affidavit. The key fact is the settlement between the parties, leading to the operational creditor's request to withdraw the CIRP.