Legal28 Feb 2026, 05:51 pm
Sayaji Hotels (Indore) Ltd: Operational Creditor Seeks Withdrawal of Insolvency Petition
AI Summary
Sayaji Hotels (Indore) Ltd has received an application from Ujaas Energy Limited, an operational creditor, for the withdrawal of a petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016. The petition was initially filed before the Hon'ble National Company Law Tribunal, Indore Bench. The application for withdrawal was filed on February 27, 2026, under Rule 8 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, and Rule 11 of the NCLT Rules, 2016. The order for withdrawal and dismissal of the petition is awaited. The company will keep the Bombay Stock Exchange informed about the outcome of the application and any further material developments.
Key Highlights
- Ujaas Energy Limited, an operational creditor, has applied for the withdrawal of a petition filed against Sayaji Hotels (Indore) Ltd.
- The petition was filed under Section 9 of the Insolvency and Bankruptcy Code, 2016.
- The application for withdrawal was filed on February 27, 2026, under the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, and NCLT Rules, 2016.
- The order for withdrawal and dismissal of the petition is awaited.
- Sayaji Hotels (Indore) Ltd will keep the Bombay Stock Exchange informed about the outcome and any further developments.