DPSC Limited has informed the Exchange about Shareholders meeting 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-1, admitted an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 on 15th May 2026, commencing the Corporate Insolvency Resolution Process (CIRP). As a result, the powers of the Board of Directors stand suspended. The company also conducted a postal ballot for the re-appointment of Mr. Anil Kumar Jha as an Independent Director for a second term of 5 years from 11th June 2026 to 10th June 2031. The e-voting period ran from 30th April 2026 to 29th May 2026, with results to be declared by 1st June 2026.
The NCLT admission under IBC is a major negative signal for shareholders. The suspension of Board powers means the company is now under creditor control, which typically leads to significant dilution or complete loss of equity value for existing shareholders during the resolution process.