Enclosed herewith intimation regarding order passed under IBC against Wholly Owned Subsidiary.
HERANBA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
The Hon'ble NCLT Mumbai Bench-VI has dismissed an insolvency application filed by Haresh Petrochem Private Limited against Heranba Organics Private Limited (HOPL), a wholly owned subsidiary of Heranba Industries. The NCLT rejected the application as not maintainable because upon excluding the interest component claimed by the applicant, the principal operational debt fell below the threshold limit prescribed under Section 4 of the IBC. No Corporate Insolvency Resolution Process (CIRP) has been initiated against HOPL as a result of this order passed on May 12, 2026. The company has stated there is no material adverse impact on Heranba Industries Limited due to this order.
The dismissal of the insolvency petition is a positive development for Heranba Industries as it protects its wholly owned subsidiary from entering a formal insolvency resolution process.