Date: August 12, 2026
Regulatory Disclosure Summary
Court / NCLT Matter
Nature of Proceeding: Corporate Insolvency Resolution Process (CIRP) withdrawal application under Section 12A of Insolvency and Bankruptcy Code, 2016
Parties Involved:
- Financial Creditor: Bank Of India
- Corporate Debtor: Supreme Engineering Limited
Tribunal Details:
- Authority: Hon'ble National Company Law Tribunal, Mumbai Bench
- Court Room: No. 1
- Coram: Sh. Prabhat Kumar (Member - Technical) and Sh. Sushil Mahadeorao Kochey (Member - Judicial)
- Case Numbers: IA (I.B.C)/3402(MB)2026, IA (I.B.C)/3367(MB)2026, IA (I.B.C)/3408(MB)2026 in C.P. (IB)/660(MB)2025
Key Dates:
- CIRP Initiation Date: June 23, 2026
- Public Announcement Date: June 25, 2026 (published in Financial Express English and Navakal Marathi)
- Claims Submission Deadline: July 7, 2026
- Order Date: August 6, 2026
- Disclosure Date: August 12, 2026
Committee of Creditors Composition:
- Bank of India: 95.93% voting share
- Thane Bharat Sahakari Bank Ltd.: 4.07% voting share
Order Outcome:
- NCLT allowed withdrawal of CIRP under Section 12A of IBC
- CIRP process stands withdrawn/terminated
- Company taken out of the rigours of CIRP process
- Resolution Professional directed to hand over control and possession of the company, including records, to erstwhile management
- Resolution Professional stands discharged after handover
- Fees and out-of-pocket expenses to be paid as per settlement approved by CoC
Additional Applications:
- IA (I.B.C)/3367(MB)2026: Seeking cooperation from respondents in CIRP process - disposed as infructuous
- IA (I.B.C)/3408(MB)2026: Progress report filing for period June 23, 2026 to July 25, 2026 - allowed and disposed
Impact Assessment:
The company states there is no material adverse impact on Supreme Engineering Limited pursuant to the order.
Legal Representation:
- Adv. Amir Arsiwala with Adv. Aditi Biswas for Financial Creditor (Bank of India)
- Adv. Siddhesh S. Sawant for Resolution Professional/Applicant