Key Quantitative Figures and Dates
- The company filed an Insolvency Petition (CP(IB)/310/CHE/2025) under Section 10 of the Insolvency & Bankruptcy Code.
- The National Company Law Tribunal (NCLT), Chennai, admitted the petition via its order dated 7 August 2026.
- The powers of the Board of Directors and its committees were suspended effective from the order date, 7 August 2026.
Parties Involved
- Interim Resolution Professional (IRP) Appointed: Mr. G. Gunasekaran (Registration No. IBBIIIPA-001I1P-P00681/2017/2018/11178).
- Previous Compliance Officer: Sri. Manoj Kumar Tibrewal.
- New Compliance Officer: Sri. G. Gunasekaran.
- Regulatory Body: National Company Law Tribunal (NCLT), Chennai.
- Recipient of Intimation: Bombay Stock Exchange Limited (Scrip Code: 521176).
Purpose and Rationale
The intimation is made to comply with Regulation 30 of the SEBI LODR Regulations, 2015, following the NCLT order that initiated the Corporate Insolvency Resolution Process.
Governance and Operational Impact
- The Board of Directors' powers are suspended as of 7 August 2026.
- Mr. G. Gunasekaran, the appointed IRP, will now act as the Compliance Officer for the company, replacing Mr. Manoj Kumar Tibrewal.
- All future communications and compliance filings will be signed by Mr. G. Gunasekaran in his capacity as the Compliance Officer.