Banaras Beads Ltd: Ex-director withdraws petition at NCLT

Banaras Beads Ltd announced that the Hon'ble National Company Law Tribunal (NCLT) of Judicature at Allahabad has passed an order on August 6, 2026. The order pertains to a pending Execution Petition (EP No. 424/ALD/2018) and Contempt Application (Cont. A. No.10/2023) filed by ex-director Raj Kumar Gupta against the company and its Chairman & Managing Director, Ashok Kumar Gupta. Mr. Gupta, through his counsel, sought and was granted permission to withdraw the execution petition with liberty to file a fresh one with better particulars. Consequently, the Contempt Application was also disposed of as withdrawn. The company received the order on August 13, 2026. No violations or contraventions were alleged, and there is no immediate quantifiable impact on the company's financial or operational activities.