IDBI Bank Withdraws Application Against Sunil Khaitan

Authority: National Company Law Tribunal, Hyderabad Bench – II

Order Date: 29 June 2026

Case Overview

This matter pertains to Interlocutory Application (IA) No. (IBC)/732/2026 filed within Company Petition IB/10/121/HDB/2024. The application was filed under Section 121 of the Insolvency and Bankruptcy Code (IBC), 2016. The petitioner was IDBI Bank Ltd, and the respondent was Mr. Sunil Krishna Khaitan. The hearing was conducted in a hybrid mode (both virtual and physical) on June 29, 2026, at 10:30 AM before a bench comprising Hon'ble Member (Judicial) Shri Rajeev Bhardwaj and Hon'ble Member (Technical) Shri Sanjay Puri. During the hearing, the learned counsel for the applicant, Mr. Nithish B, filed a formal withdrawal memo seeking to withdraw the application.

Final Outcome

The National Company Law Tribunal accepted the petitioner's request for withdrawal. Consequently, the application (IA (IBC)/732/2026) was dismissed as withdrawn.

Topics: NCLT, Insolvency, Banking