Mcleod Russel India Limited has announced the withdrawal of an insolvency application filed by its financial creditor, PDK Impex Pvt Ltd. The application, filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 ("IBC"), was against the company before the Hon'ble National Company Law Tribunal ("NCLT"), Kolkata bench.

The creditor had alleged a default amount of ₹10.22 crore. Following the withdrawal, the NCLT, Kolkata bench, has dismissed the application as withdrawn. The company received confirmation of this withdrawal via email from its advocate, although the official order copy from the NCLT has not yet been uploaded.