McLeod Russel India Ltd has received relief after the National Company Law Tribunal (NCLT), Kolkata Bench, allowed the withdrawal of an insolvency petition filed against the company, following a debt restructuring arrangement with the National Asset Reconstruction Company Ltd (NARCL).
In a regulatory filing on Wednesday, the Company said NARCL, acting through its attorney India Debt Resolution Company Ltd (IDRCL), sought to withdraw the insolvency application filed under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016, in view of a sanction letter issued on April 2, 2026, and subsequent modifications approving the…