New Delhi: Yatra Online Ltd has informed exchanges that the National Company Law Appellate Tribunal (NCLAT) has disposed of the ongoing appeal related to its wholly owned subsidiary, TSI Yatra Pvt Ltd, effectively paving the way for withdrawal of the Corporate Insolvency Resolution Process (CIRP).
The case traces back to October 2024, when the NCLT, New Delhi admitted TSI into CIRP following a petition by the liquidator of Ezeego Travels & Tours Ltd, acting as operational creditor. The admission was subsequently stayed by the NCLAT, conditional upon TSI depositing ₹4.03 crore as a fixed deposit with the tribunal’s Registrar — a requirement the company fulfilled on October 23, 2024.
Yatra noted that the dispute moved towards closure after both parties signed a settlement agreement on November 19, 2025, under which TSI paid Ezeego ₹5 crore as settlement, along with CIRP costs of ₹6.25 lakh, through demand drafts. The settlement required Ezeego to withdraw all IBC proceedings.
In its latest order, the NCLAT directed that the ₹4.03 crore deposit made pursuant to the earlier stay order be refunded to TSI. The appellate tribunal further instructed the Interim Resolution Professional to file a withdrawal application under Section 12A of the Insolvency and Bankruptcy Code, and clarified that no further CIRP steps may be taken until the NCLT decides on the withdrawal.