Intimation for Submission of Application for withdrawal of Petition filed by M/s Ujaas Energy Limited before the Hon''ble NCLT, Indore Bench
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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.
Sayaji Hotels (Indore) Ltd has informed the BSE that M/s Ujaas Energy Limited, the operational creditor, has filed an application before the NCLT Indore Bench to withdraw its insolvency petition against the company. This follows the execution of a Settlement Deed between the two parties on February 27, 2026. The original petition was filed under Section 9 of the Insolvency and Bankruptcy Code, 2016. The company is awaiting the NCLT's order on the withdrawal and dismissal of the petition.
Positive for shareholders — the insolvency threat against the company is being resolved amicably through settlement, and withdrawal of the petition removes a major risk overhang. The stock may see relief once the NCLT formally dismisses the case.