NCLT Disposes Insolvency Petition Against Sayaji Hotels (Indore) Ltd Following Settlement

The National Company Law Tribunal (NCLT) has disposed of a petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by M/s Ujaas Energy Limited against M/s Sayaji Hotels (Indore) Limited. The petition was filed due to non-payment of operational debt. However, following a settlement agreement between the parties, Ujaas Energy Limited applied for withdrawal of the case on February 27, 2026, which was accepted by the NCLT on March 11, 2026. The proceedings under Section 9 of the Insolvency and Bankruptcy Code, 2016 have now been closed, marking the conclusion of the matter.