Authority: National Company Law Tribunal, Jaipur Bench
Order Date: June 15, 2026
Case Overview
The National Company Law Tribunal (NCLT), Jaipur Bench, heard an application (IA No. 266/JPR/2026) filed in the matter of CP No. (IB)-83/7/JPR/2021, which was initiated under Section 7 of the Insolvency and Bankruptcy Code, 2016. The original application was filed by Rajasthan Financial Corporation as the Financial Creditor against M/s Ruby Build Estates Pvt. Ltd. as the Corporate Debtor. The present application was filed by the Resolution Professional (RP) under Section 12A of the IBC, seeking withdrawal of the Corporate Insolvency Resolution Process (CIRP). The RP stated that the application was made in view of the directions received from the Committee of Creditors (CoC) and the receipt of Form-FA.
Final Outcome
The NCLT allowed the application and approved the withdrawal of the CIRP against Ruby Build Estates Pvt. Ltd. All pending Interlocutory Applications and the main Company Petition were disposed of. The Tribunal directed the Corporate Debtor (Ruby Build Estates) to ensure payment of the complete CIRP cost within a period of two weeks from the date of the order. Additionally, IA No. 155/JPR/2026 was noted to have been rendered infructuous and was disposed of accordingly.
Topics: Insolvency Withdrawal, NCLT Order, Corporate Debtor