IBC Application Against Heranba Industries Withdrawn Following Settlement Reached with Applicant
Heranba Industries Limited has received approval from the National Company Law Tribunal, Ahmedabad, confirming that an application filed against it by Haresh Petrochem Private Limited has been withdrawn. The withdrawal followed a settlement reached between both parties regarding the matter.The order was passed on June 08, 2026, in relation to the application filed under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. This action involved Haresh Petrochem Private Limited as the Applicant and Heranba Industries Limited.
According to details provided by the tribunal, the Applicant had sought permission to withdraw the case because the underlying matter had been settled between the parties. Consequently, the Hon'ble National Company Law Tribunal granted the necessary permission, officially disposing off the application as withdrawn.
The outcome states that there is no material adverse impact on Heranba Industries Limited pursuant to this specific order.
Key details regarding the action are presented below:
| Particulars | Details |
|---|---|
| Authority Involved | Hon'ble National Company Law Tribunal, Ahmedabad |
| Parties Involved | Haresh Petrochem Private Limited (The Applicant) Vs Heranba Industries Limited |
| Nature of Action | Final order passed in C.P.(IB)/90(AHM)2026 under Section 9 of the Insolvency and Bankruptcy Code, 2016 |
| Date of Order | June 08, 2026 |
| Outcome Details | The Authority permitted withdrawal of the application after noting the settlement arrived at between the parties. |
The approval by the NCLT meant that no Corporate Insolvency Resolution Process (CIRP) was initiated against Heranba pursuant to this particular application.
HERANBA Stock Price Movement
Shares of Heranba Industries Limited are edging higher to ₹198.51 as of 1:22 PM today, surging by 9.46%. The stock remains active within its trading range, having seen a robust volume of 590,469 shares traded so far and with a day high standing at ₹199.25.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.