Lazuline Biotech Insolvency Petition Dismissed

NCLT Hyderabad dismissed an insolvency petition against Lazuline Biotech Pvt Ltd for non-prosecution.
The petition was filed under Section 94 of the Insolvency and Bankruptcy Code, 2016.
Petitioner's counsel was absent from multiple hearings, indicating a lack of interest in pursuing the case.
Respondents included Canara Bank, Union Bank of India, and Lazuline Biotech itself.