Intimation of Order by Hon''ble NCLT for disposal of petition filed under Section 9 of Insolvency and Bankruptcy Code, 2016 by M/s Ujaas Energy Limited
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Ujaas Energy Limited had filed an insolvency petition under Section 9 of the IBC against Sayaji Hotels (Indore) in 2025 over an unpaid operational debt. Both parties subsequently entered into a settlement agreement, and Ujaas Energy filed an application to withdraw the petition on February 27, 2026. The NCLT Indore Bench accepted the withdrawal application and formally disposed of the petition on March 11, 2026, with the order received by the company on March 14, 2026. The insolvency proceedings against Sayaji Hotels now stand fully concluded, removing the threat of insolvency resolution.
This is a positive development for Sayaji Hotels shareholders, as the insolvency risk has been removed through an out-of-court settlement. The stock may see relief from the overhang of the IBC proceedings, though the specific settlement amount and terms have not been disclosed.