Global Focus Investment Managers Limited initiated a corporate insolvency resolution process against Orchasp Limited under Section 7 of the IBC, 2016. The Financial Creditor and Corporate Debtor subsequently settled the matter. The Financial Creditor's counsel informed the Adjudicating Authority that a settlement had been reached and a memo seeking leave to withdraw the Company Petition was filed. The Adjudicating Authority perused the memo dated 2022-11-28, diary number 9970. The key fact is the settlement between the parties, leading to the withdrawal of the insolvency application.

Global Focus Investment Managers Limited initiated a corporate insolvency resolution process against Orchasp Limited under Section 7 of the IBC, 2016. The Financial Creditor and Corporate Debtor subsequently settled the matter. The Financial Creditor's counsel informed the Adjudicating Authority that a settlement had been reached and a memo seeking leave to withdraw the Company Petition was filed. The Adjudicating Authority perused the memo dated 2022-11-28, diary number 9970. The key fact is the settlement between the parties, leading to the withdrawal of the insolvency application.