DPSC Limited has informed the Exchange about Corporate Insolvency Resolution Process regarding Proceedings of Postal Ballot-Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
DPSCLTD · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
India Power Corporation Limited (formerly DPSC Limited) has disclosed that the Hon'ble NCLT Hyderabad Bench-I admitted an application under Section 7 of the Insolvency and Bankruptcy Code on 15th May 2026, commencing the Corporate Insolvency Resolution Process. As a result, the powers of the Board of Directors stand suspended. Separately, the company conducted a postal ballot for re-appointing Mr. Anil Kumar Jha as Independent Director for a second 5-year term from 11th June 2026 to 10th June 2031. The e-voting period ran from 30th April to 29th May 2026, with results to be declared by 1st June 2026. An IRP (Interim Resolution Professional) has been appointed to oversee proceedings.
This is highly negative for shareholders. The company entering CIRP means significant financial distress, with the board's powers suspended and an IRP now controlling the company. Shareholders face extreme uncertainty as the resolution process may lead to restructuring, sale of assets, or liquidation.