NCLT Rejects Insolvency Plea Against NRB Industrial Bearings After Applicant Withdraws Case

1. Company Name: NRB Industrial Bearings Limited

2. Stock Details:

   • NSE Symbol: NIBL

   • BSE Scrip Code: 535458

   • ISIN: INE047O01014

3. Event Type: Corporate Insolvency Resolution Process (CIRP) Update

4. Sub-event: Rejection of Insolvency Application

5. Date of Report: March 21, 2025

6. Order Date: March 5, 2025

7. Details:

   • An insolvency application filed against NRB Industrial Bearings was withdrawn by the applicant.

   • The NCLT dismissed the application due to this withdrawal.

   • The company received a copy of the order from NCLT confirming the dismissal.

8. Significance: This update clarifies that the company is not under insolvency, removing uncertainty regarding its financial/legal status.

Share Market Effect:

• Positive Sentiment: The rejection of the insolvency plea indicates no imminent financial distress.

• Investor Confidence: Likely boost in investor confidence and potential upward momentum in share price in the short term.

• Reduced Risk Perception: Removal of insolvency overhang may attract new investors or institutional interest.

About the Company:

NRB Industrial Bearings Limited (NIBL) is a specialized manufacturer of industrial bearings used in machinery, automotive, and industrial applications. Known for high-precision engineering, NIBL plays a critical role in industrial supply chains and has a notable presence in both domestic and export markets.

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