Blockchain transaction failing because of TransacionEventHandler and no response from peers

**What happened?**

Normal transactions used to work fine & all blockchain transactions were getting committed. We have never faced issues earlier ever as this transaction is normal transaction which we are regularly do. All of a sudden the blockchain transaction is not getting committed & fails.

**What did you expect to happen?**
To commit blockchain transactions as usual

**Anything else we need to know?**
On checking logs of API, it says that no peers reponded & event strategy error related to timeout.

**ERROR**
[TransactionEventHandler]: strategyFail: commit failure for transaction "5c6e2d49c66b09fc7849815488f81ce5ccd57b7b7707fcd4815bc3e53f6db464": TimeoutError: Event strategy not satisfied within the timeout period. No response received from peers: peer0-org1:7051
at TransactionEventHandler.timeoutFail (/usr/src/app/node_modules/fabric-network/lib/impl/event/transactioneventhandler.js:125:23)
at Timeout._onTimeout (/usr/src/app/node_modules/fabric-network/lib/impl/event/transactioneventhandler.js:112:18)
at listOnTimeout (internal/timers.js:554:17)
at processTimers (internal/timers.js:497:7) {
transactionId: '5c6e2d49c66b09fc7849815488f81ce5ccd57b7b7707fcd4815bc3e53f6db464'
}
[TransactionEventHandler]: setListenTimeout - event handler timed out
error from invoke function :: Event strategy not satisfied within the timeout period. No response received from peers: peer0-org1:7051

**Comment/Questions**

- What can be the issue in this case as my peer/orderer pods are up & running.
- Is there any parameter tuning configuration which needs to be increased or adjusted?
- Any timeout/retry count parameter with a retry delay to be done?
- What precautions can be taken so that we do not encounter this issue in future - Requesting your guidance & suggestions fabric maintainers!