Corporate Insolvency Resolution Process (CIRP) initiated vide Hon'ble National Company Law Tribunal, Mumbai Bench order dated January 24, 2023
Process conducted under provisions of Insolvency & Bankruptcy Code, 2016 (IBC) and regulations framed thereunder
Powers of Board of Directors vested in Mr. Dharmendra Dhelariya as Resolution Professional (RP)
Resolution Plan submitted by Micro Capitals Private Limited (Successful Resolution Applicant) approved
Legal Proceedings Timeline
Hon'ble NCLAT common Judgment and Order dated June 30, 2026 passed in Company Appeal (AT) (Insolvency) No. 714 of 2025 and Company Appeal (AT) (Insolvency) No. 721 of 2025
NCLAT set aside order dated March 24, 2025 passed by Adjudicating Authority
NCLAT allowed I.A. (PLAN) No. 04 of 2024 and approved Resolution Plan
NCLAT directed Adjudicating Authority to pass consequential orders within one month from order date
Hon'ble NCLT Mumbai Bench, Court-V pronounced approval order on August 5, 2026 in I.A. (PLAN) No. 04 of 2024 in C.P. (IB) No. 748/MB/2022
Resolution Plan Status
Resolution Plan stands approved and binding on all stakeholders under Section 31 of IBC
CIRP of Company concluded as of August 5, 2026
Company affairs now managed under approved Resolution Plan supervised by Monitoring Committee
Financial Results Consideration
Unaudited Financial Results for quarter ended June 30, 2026 to be considered and approved
Meeting of Monitoring Committee scheduled for Friday, August 14, 2026
Monitoring Committee discharges functions of Board of Directors under approved Resolution Plan
Filed pursuant to Regulation 29 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015
