We hereby inform you that the Hon''ble National Company Law Tribunal, Ahmedabad bench vide its order dated April 17, 2026 has admitted the petition filed under Section 9 of IBC, 2016 filed ....
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On the reaction day the stock moved 1.6 pts less than Nifty Microcap 250 and 2.3 pts less than its Other Agricultural Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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The National Company Law Tribunal (NCLT), Ahmedabad Bench, has admitted an insolvency petition filed by Cultivatrade Enterprise Pvt Ltd against Harshil Agrotech Limited. The operational debt of Rs 7.54 crore (₹7,53,84,258.08) arose from supply of agricultural produce between November 15, 2025 and December 15, 2025. The NCLT rejected Harshil Agrotech's defence claiming quality disputes and unsubstantiated reconciliation demands, calling it a "moonshine defence." The tribunal appointed Mr. Neeraj Kumar Bajaj as Interim Resolution Professional (IRP) and declared a moratorium under Section 14 of IBC, prohibiting legal proceedings, asset transfers, and recovery actions against the company.
This is extremely negative for shareholders. The company is now under Corporate Insolvency Resolution Process (CIRP), meaning all management control transfers to the IRP. Existing shareholders typically face severe value erosion or complete loss as the resolution process may involve restructuring, sale of assets, or liquidation.