Orbit Lifescience Withdraws NCLT Petition Against Krux Pharma

Authority: National Company Law Tribunal (NCLT), Division Bench, Court - 1, Ahmedabad

Order Date: 22/06/2026

Case Overview

The proceedings involved an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by Orbit Lifescience Private Limited (Applicant) against Krux Pharma Private Limited (Respondent). The case was registered as C.P.(IB)/201(AHM)2026. During the hearing conducted in hybrid mode, the learned counsel for the applicant, Mr. Manan Bhindora representing Bathiya Legal, appeared and expressed the applicant's wish to withdraw the application. The applicant sought liberty to file a fresh application on the same cause of action with better particulars and documents.

Final Outcome

The NCLT bench comprising Hon'ble Member (Judicial) Mr. Shammi Khan and Hon'ble Member (Technical) Mr. Sanjeev Sharma allowed the withdrawal request. The application C.P.(IB)/201(AHM)2026 was dismissed as withdrawn, with liberty granted to the applicant to file a fresh application on the same cause of action with improved particulars and documentation.

Topics: Insolvency Proceedings, Legal Withdrawal