DPSC Limited has informed the Exchange about Corporate Insolvency Resolution Process
DPSCLTD · price
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India Power Corporation Limited (IPCL), formerly DPSC Limited, has had a Corporate Insolvency Resolution Process petition admitted by the NCLT Hyderabad Bench on 15.05.2026. The petition was filed by State Bank of India (SBI) under Section 7 of the Insolvency and Bankruptcy Code, 2016. SBI is the financial creditor, and IPCL is the corporate debtor. The admission was driven by IPCL's role as a Corporate Guarantor for Meenakshi Energy Limited (MEL), the principal borrower. SBI and associate banks had extended financial facilities totalling Rs.552 crore (Phase I) and Rs.1,296.35 crore (Phase II) to MEL, secured by deeds of guarantee executed by IPCL on 23.09.2016. After MEL defaulted, demand notices were issued to IPCL as guarantor, but it failed to honour its obligations. The NCLT has appointed Ms. Medarametla Srinivasa Manoranjani as Interim Resolution Professional (IRP). IPCL had contested the petition on grounds including validity of the corporate guarantee, discharge of debt via share pledge invocation, and regulatory approval requirements, but these were rejected.
The admission of CIRP is highly negative for equity shareholders as the company now enters the insolvency resolution process, which typically results in significant dilution or complete loss of shareholder value. Trading in the scrip may be suspended, and lenders will recover dues through the resolution process.