In terms of the provision of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Company hereby discloses the enclosed details. In terms of ....
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Emerald Leisures Ltd informed BSE that the National Company Law Tribunal (NCLT), Mumbai Bench, has dismissed Company Petition (IBC) No. 152/2025 as withdrawn. The petition was originally filed by Juhu Resorts and Development Private Limited under Section 7 of the Insolvency and Bankruptcy Code, seeking repayment of intercorporate deposits (ICDs) of approximately Rs. 22 crore. Both parties, reportedly run by members of the Mehta family, reached an amicable out-of-court settlement, leading to the petitioner's request for withdrawal. The NCLT order dated 08.08.2025 was uploaded on the tribunal's website on 20.08.2025. The company stated there is no material financial, operational, or other impact, and no penalty or sanction was imposed.
This is a positive development for shareholders as the company avoids admission into the insolvency process. The dismissal of the IBC petition removes a significant overhang on the stock and confirms that the inter-corporate deposit dispute has been resolved privately between related parties.