BIL VYAPAR LIMITED has informed the Exchange about Appointment Of Resolution Professional
BILVYAPAR · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
BIL Vyapar Limited (formerly Binani Industries Limited) has informed exchanges that the NCLT Kolkata Bench has appointed Ms. Rachana Jhunjhunwala as the Resolution Professional (RP), replacing the earlier Interim Resolution Professional Mr. Subodh Kumar Agarwal. The appointment was made following a hearing on January 13, 2026, in a case (C.P. (IB)/46(KB)2025) filed by Punjab National Bank under Section 7 of the Insolvency and Bankruptcy Code (IBC). The Committee of Creditors (CoC) approved her name with 100% voting. The company continues to be under the Corporate Insolvency Resolution Process (CIRP).
This is a negative development for shareholders as the company remains in insolvency proceedings under IBC. Existing equity holders typically face significant dilution or complete wipeout once a resolution plan is approved and implemented. The 100% CoC consensus signals that creditors are aligned and moving swiftly toward resolution, which raises the urgency for shareholders.