Special Situations & Event Driven › Sub-category
Turnaround / Restructuring
21 articles
Several Indian companies are facing significant financial distress and restructuring challenges, highlighting ongoing headwinds for the turnaround sector. DCM Financial Services, Burnpur Cement, and Dharani Sugars all reported substantial net losses for fiscal year 2026, with auditors raising concerns about their ability to continue as going concerns due to material liabilities and operational shutdowns. While some companies like Gayatri Projects and Diamond Power are progressing through resolution plans, often with limited creditor recovery, the overall picture suggests a difficult environment for distressed assets. However, Gayatri Projects' plan and Diamond Power's discharge from legal cases offer a glimmer of hope for successful restructuring, while NexGen Laminators' approved resolution plan demonstrates progress in insolvency proceedings.
DCM Financial Services Reports FY26 Loss with Modified Audit
DCM Financial Services reported a standalone net loss of ₹102.27 lakhs for FY26 with a qualified audit opinion highlighting material uncertainties.
The auditor's report cites non-provision of ₹1,683 l
Burnpur Cement FY2026 Net Loss ₹7923.86 Lakh
Board approved audited FY2026 results showing a net loss of ₹7923.86 lakh with operations fully discontinued since November 2023.
Redesignated Mr. Pawan Pareek from Executive Director & CFO to Whole-t
Dharani Sugars FY26 Net Loss ₹995.55 Crore
Board approved audited FY26 results showing a net loss of ₹995.55 crore and negative net worth of ₹262.83 crore.
Reappointed internal, cost auditors and Mrs. Visalakshi Periasamy as director, subject
NCLT Approves Ramdurlabhpur Tea Co Pre-Pack Resolution Plan
NCLT Kolkata approves pre-packaged insolvency resolution plan for Ramdurlabhpur Tea Co Ltd with consortium investors.
Plan provides Rs 14.93 crore payout to creditors, approved by 100% CoC vote with R
India Homes Limited FY26 Audited Results with Disclaimer
India Homes Limited reported audited FY26 standalone net profit of ₹2,285.06 lakhs, a significant improvement from FY25 loss of ₹1,339.35 lakhs.
Auditors issued a disclaimer of opinion due to multiple
Gayatri Projects FY26 Net Profit ₹20,469 Crore Post OTS
Board approved audited standalone and consolidated financial results for Q4 and FY ended 31 March 2026, following CIRP withdrawal approved by NCLT.
Company reported standalone net profit of ₹20,469.52
Camex Limited FY2026 Audited Financial Results
Board approved audited FY2026 results with revenue of ₹14,955.78 lakhs and net profit of ₹327.35 lakhs.
Recognized ₹24.42 lakhs exceptional gain from insurance settlement exceeding initial fire loss e
Steelco Gujarat ₹14.9 Crore Rights Issue at ₹112/Share
Steelco Gujarat Limited announces a rights issue of 13,30,060 equity shares at ₹112 each to raise ₹14.9 crore for working capital and general corporate purposes.
Promoters will forgo their entitlement
NCLT Approves Morarjee Textiles Resolution Plan
NCLT Mumbai approves Shrinivas Spintex's INR 156 crore resolution plan for Morarjee Textiles, approved by 75.61% of CoC.
Plan provides INR 130.02 crores to secured creditors and only INR 0.39 crores t
NCLT Approves Prakash Asphaltings' ₹19.88 Cr Shri Ram Switchgears Resolution Plan
NCLT Indore approves Prakash Asphaltings' resolution plan for Shri Ram Switchgears Ltd., providing ₹19.88 crore against admitted claims of ₹70.72 crore.
The plan was unanimously approved by CoC with 1
NexGen Laminators Resolution Plan Approved, Punjab Tax Claim Rejected
NCLT Chandigarh approves Rajesh Singla's Rs 27.2 crore resolution plan for NexGen Laminators, providing 20.14% recovery to financial creditors.
Tribunal rejects Punjab State Tax Department's belated R
Nexgen Laminators Resolution Plan Approved by NCLT
NCLT Chandigarh approves Mr. Rajesh Singla's resolution plan for Nexgen Laminators with 100% CoC voting share.
Total resolution value is ₹27.20 crore, comprising ₹23.76 crore for creditors and ₹3.20 c
KS Electronics Withdraws Voluntary Liquidation Process
NCLT Allahabad permits KS Electronics to terminate its voluntary liquidation process initiated via shareholder resolution on 22.11.2025.
Shareholders passed a new special resolution on 06.02.2026 with
Diamond Power Discharged in CBI/ED PMLA Cases
Diamond Power Infrastructure discharged from CBI and ED/PMLA cases by Ahmedabad court order dated May 6, 2026.
Court order releases company assets worth approximately ₹1000+ crore and receivables of ₹
Star HFL Receives ₹200 Cr Equity Infusion Intent
Star Housing Finance Ltd received a Letter of Intent from Bassinvictus Private Ltd for a ₹200 crore equity infusion to acquire a majority stake.
The investment is contingent on lenders agreeing to res
Supreme Court Unitech Rs 14,129.84 Crore Debt Hearing
Supreme Court hearing on monetizing Unitech's unsold assets to resolve Rs 14,129.84 crore debt to 7 banks and 3 ARCs.
Board directed to disburse Rs 82.04 crore to small fixed deposit holders (up to Rs
Redmax Footwears Board Approves IndusInd Bank Account Closure
Board approved closure of inactive legacy IndusInd Bank account not under current management control post-IBC acquisition.
Company name officially changed from Viaan Industries Limited to Redmax Footw
Lord's Mark Industries MC Approves Trading, Share Allotment
Monitoring Committee approved handover of management to reconstituted board effective June 5, 2026 trading commencement.
Committee ratified Rs 9.44 lakh professional fees for erstwhile RP from January
Supreme Court Allows Ashok Kumar Sharma's Eviction Appeal
Supreme Court sets aside eviction order against Ashok Kumar Sharma, restoring possession of his auto repair shop in Chandigarh.
The appellant had defaulted on lease payments totaling ₹6.57 lakh in 200
SPEL Semiconductor Q3 FY26 Net Loss ₹6.56 Crore
Board approved unaudited Q3 FY26 results showing a net loss of ₹6.56 crore and negative net worth of ₹4.43 crore.
Factory operations suspended since Jan 2026 pending fund infusion through surplus land
Star Cement Q3 FY26 Results, Dividend & Promoter Reclassification
Star Cement filed a no-objection application with NSE and BSE on February 10, 2026, for reclassifying 29-member Chamaria Group (6.052% stake) from Promoter to Public category.
Q3 FY26 standalone PAT t