Heranba Industries has secured a legal victory after the Hon'ble National Company Law Tribunal (NCLT), Ahmedabad, permitted the withdrawal of an insolvency application filed against it. The application, filed by Haresh Petrochem Private Limited under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, was withdrawn as the matter was settled between the parties. Consequently, no Corporate Insolvency Resolution Process (CIRP) has been initiated against Heranba Industries pursuant to this application.

Order Details

The final order was passed on June 08, 2026, in case C.P.(IB)/90(AHM)2026. The tribunal granted permission for the withdrawal after noting the settlement arrived at between the parties. The application has been disposed off as withdrawn, effectively concluding the legal proceedings initiated by the operational creditor.

Impact and Outcome

The company confirmed that there is no material adverse impact on its operations following this order. The withdrawal removes the immediate threat of insolvency proceedings that could have arisen from the application. Heranba Industries stated that it may take necessary steps as advised in accordance with applicable law regarding the matter.

Heranba Industries Limited promoter Raghuram K Shetty confirmed that no shares of the company were encumbered during the financial year 2025-2026. The disclosure was submitted under Regulation 31(4) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The confirmation covers all promoters, promoter group members, and persons acting in concert.

The filing, dated April 06, 2026, states that none of the specified parties made any encumbrance on the shares of Heranba Industries Limited, directly or indirectly, during the period. The disclosure is a mandatory compliance requirement under the SEBI regulations to ensure transparency regarding the holding status of promoter shares.

The document included an annexure listing the names of the promoter and promoter group members as on March 31, 2026. The list identifies individuals and entities classified as part of the promoter group, providing a clear record of the stakeholders involved in the disclosure.

Promoter and Promoter Group Members

The information was submitted to BSE Limited and National Stock Exchange of India Limited for their records. The scrip code for Heranba Industries Limited on BSE is 543266, and the trading symbol is HERANBA.