NCLT Hyderabad Dismisses RARE ARC Application as Withdrawn

Authority: National Company Law Tribunal, Hyderabad Bench – 1

Order Date: 15-06-2026

Case Overview

The National Company Law Tribunal (NCLT) Hyderabad Bench heard an application, IA (IBC) 849/2026, which was filed within another interim application IA (IBC) 329/2025. These applications were part of a larger company petition, IB/144/2022, filed under Section 95 of the Insolvency and Bankruptcy Code, 2016 (IBC). The petition was initiated by RARE Asset Reconstruction Ltd as the petitioner against the respondents, Smt. Neetu Gupta and M/s. MBS Impex Pvt Ltd. The hearing was conducted in a hybrid mode (VC and Physical) and was presided over by a two-member bench comprising Sh. Rajeev Bhardwaj, Hon'ble Member (Judicial) and Sh. Sanjay Puri, Hon'ble Member (Technical).

During the hearing, the Learned Counsel for the applicant, Ms. N Aishwarya, representing RARE Asset Reconstruction Ltd, stated her intention to withdraw the application IA (IBC) 849/2026. The Bankruptcy Trustee for the case, Mr. CA. K Sri Vamsi, was also present.

Final Outcome

The tribunal granted the request for withdrawal. Accordingly, the application IA (IBC) 849/2026 was dismissed as withdrawn. The order was signed by both members of the bench.

Topics: NCLT, Insolvency, Withdrawal