Intimation of Execution of Settlement Deed between Sayaji Hotels (Indore) Limited and Ujaas Energy Limited.
Price
▲ 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 it has entered into a Settlement Deed with Ujaas Energy Limited to resolve an insolvency petition. Ujaas Energy had filed a Section 9 petition under the Insolvency and Bankruptcy Code, 2016 against Sayaji Hotels before the NCLT Indore Bench, as earlier disclosed on August 21, 2025. Both parties have now mutually agreed on a settlement amount for full and final settlement of all claims and disputes. Ujaas Energy will now file an application before the NCLT to withdraw and dismiss the petition. The company will keep the exchange updated on further developments.
This is a positive development for shareholders as the company has avoided potential insolvency proceedings through an out-of-court settlement. With the petition set to be withdrawn and dismissed, the risk of insolvency action against the company is largely mitigated.