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The National Company Law Tribunal’s (NCLT) Allahabad Bench has dismissed State Bank of India’s insolvency petition against Bajaj Hindustan Sugar Limited as “withdrawn”.
An order to this effect has been issued by this NCLT Bench comprising Praveen Gupta, Member (Judicial) and Ashish Verma, Member (Technical) on October 25.
This follows SBI (as a financial creditor) moving an application for withdrawal of its insolvency petition in the wake of Bajaj Hindustan Sugar paying the outstanding amount that had fallen due to the bank.
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