RARE ARC Withdraws Application Against Sukesh Gupta

Authority: National Company Law Tribunal, Hyderabad Bench - 1

Order Date: 15-06-2026

Case Overview

The hearing concerned IA (IBC) 850/2026 in IA (IBC) 330/2025, which was filed within Company Petition IB/145/2022. The petition was initiated under Section 95 of the Insolvency and Bankruptcy Code, 2016. The petitioner was RARE Asset Reconstruction Ltd, and the respondents were Mr. Sukesh Gupta and M/s. MBS Impex Pvt Ltd.

During the hearing held on 15-06-2026 at 12:10 PM, the Learned Counsel for the Applicant, Ms. N Aishwarya, appearing alongside the Bankruptcy Trustee, CA. K Sri Vamsi, stated her intention to withdraw the application.

Final Outcome

The bench, comprising Hon'ble Member (Judicial) Sh. Rajeev Bhardwaj and Hon'ble Member (Technical) Sh. Sanjay Puri, dismissed the application as withdrawn based on the applicant's request.

This content may not be financially relevant