NCLT admits insolvency plea against Dharan Infra-EPC, CIRP initiated

NCLT admitted insolvencyRegulatory & Legal View source PDF Explain this filing

DHARAN · price

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Price reactionminutes from the announcement price · days from the prior close

-3.6%Reaction day

₹0.28

prior close

₹0.28

announcement price

After-mkt

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Nifty Microcap 250market · in no size index; the smallest one is used+1.4%-4.9% vs market

On the reaction day the stock moved 4.9 pts less than Nifty Microcap 250, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

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Reaction day

-3.6+1.4-4.9

Next day

-7.1+1.4-8.6

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AI summary

NCLT Mumbai admitted Tata Capital Housing Finance Section 7 petition against Dharan Infra-EPC, initiating Corporate Insolvency Resolution Process. Default is Rs 28.05 crore on construction finance loans. Moratorium declared under Section 14. Mrs Palak Swapnil Desai appointed Interim Resolution Professional. Company is in real estate construction. Tribunal ruled debt and default are established beyond the threshold.

Likely market impact

CIRP begins with moratorium halting recovery actions. Stock likely volatile. Existing equity may be diluted or wiped out during resolution.