NCLAT grants relief to BGR Energy, allows board to launch rights issue
BGRENERGY · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
BGR Energy was admitted to CIRP by NARCL on 17 April 2026. NCLAT Chennai suspended that admission order on 30 April 2026. On 5 October 2026, the company signed a Master Restructuring Agreement with its main lender, which holds 97 percent voting share in the CoC. NCLAT on 7 October 2026 allowed the board to increase authorised share capital and undertake a rights issue between 9 October and 31 December 2026. The Interim Resolution Professional was directed to hand over MCA21 portal control back to directors. Next hearing on 16 November 2026.
Positive for shareholders. CIRP remains suspended. Company is restructuring debt via rights issue and aims to exit insolvency through Section 12A route.