Yatra Online Ltd announced that the amount deposited with NCLAT has been refunded to TSI, while the NCLT has permitted withdrawal of the company’s insolvency petition following the Interim Resolution Professional’s (IRP) application. The development marks a significant step in closing insolvency proceedings and stabilizing the company’s financial outlook.
Yatra Online Ltd, a leading travel services provider, has received regulatory relief as the National Company Law Appellate Tribunal (NCLAT) refunded the deposit made to TSI, and the National Company Law Tribunal (NCLT) approved the withdrawal of the company’s insolvency petition under the Corporate Insolvency Resolution Process (CIRP).
The IRP’s application to withdraw the petition was accepted, signaling the end of insolvency proceedings and allowing Yatra Online to focus on its core operations. This outcome provides clarity for stakeholders and strengthens confidence in the company’s ability to navigate financial challenges.
Industry experts note that the resolution underscores the importance of regulatory oversight and structured insolvency frameworks in ensuring fair outcomes for creditors and companies alike.
Key Highlights / Major Takeaways
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Refund: NCLAT refunded deposit amount to TSI.
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NCLT Decision: Allowed IRP’s application to withdraw insolvency petition.
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CIRP Closure: Marks conclusion of insolvency proceedings for Yatra Online.
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Strategic Impact: Provides financial clarity and operational stability.
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Sector Context: Reinforces role of insolvency frameworks in corporate governance.
Sources: Business Standard, Economic Times, BSE Corporate Filings