National Company Law Tribunal Dismisses Executive Petition Filed Against Banaras Beads Limited
The National Company Law Tribunal (NCLT) at Allahabad has disposed of an executive petition filed against Banaras Beads Limited following the petitioner's decision to withdraw the case.According to the proceedings, the NCLT passed an order on August 6, 2026, concerning Executive Petition No.424/ALD/2018 and Cont. A. No.10/2023 in CP No.14/1999. The petitions concerned a case involving the company and Shri Ashok Kumar Gupta, Chairman & Managing Director of Banaras Beads Limited.
The petitioner, Ex-director Raj Kumar Gupta, sought to withdraw his petition against the company and Shri Ashok Kumar Gupta. Based on this statement, the NCLT dismissed EP No.424/ALD/2018 as withdrawn, granting liberty to file a fresh petition with more specific details. Additionally, Cont. A. No.10/2023 was ordered to be withdrawn and subsequently stood disposed of.
The key aspects of the legal matter handled by the National Company Law Tribunal include:
| Authority | Petitioner's Action | Outcome |
|---|---|---|
| NCLT, Allahabad Bench | Execution Petition No.424/ALD/2018 | Dismissed as withdrawn with liberty to file a fresh petition. |
| NCLT, Allahabad Bench | Cont. A. No.10/2023 | Ordered to be withdrawn and stood disposed of. |
The proceedings regarding these matters took place on August 6, 2026.
BANARBEADS Stock Price Movement
Shares of Banaras Beads Limited are edging higher to ₹113.35 as of 12:17 PM, buoyed by a daily gain of 0.41%. The stock is currently active on a recorded volume of 780 shares.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.
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