Canara Bank withdrew its Section 7 IBC insolvency petition against East Delhi Leasing Pvt Ltd.
The withdrawal follows RBI's cancellation of the respondent's financial service provider license on 31.12.2025.
The NCLT Chennai bench dismissed the petition as withdrawn with liberty to file afresh.
The order was based on a precedent set in the Ankush Saluja vs Urmila Goyal case.