Legal10 Jun 2026, 01:09 pm
Heranba Industries: IBC Application Withdrawn by Haresh Petrochem
AI Summary
Heranba Industries Limited has announced that an application filed against it under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) by Haresh Petrochem Private Limited has been withdrawn. The withdrawal was permitted by the Hon'ble National Company Law Tribunal, Ahmedabad (NCLT) after the parties reached a settlement. Consequently, no Corporate Insolvency Resolution Process (CIRP) has been initiated against Heranba. The company stated there is no material adverse impact on its operations.
Key Highlights
- IBC application filed by Haresh Petrochem against Heranba withdrawn.
- Withdrawal granted by NCLT following settlement between parties.
- No Corporate Insolvency Resolution Process initiated against Heranba.
- No material adverse impact on Heranba Industries Limited.
- Matter disposed off as withdrawn by the tribunal.
Price Impact
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