NCLT admits insolvency petition; first creditors meeting scheduled
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The Ahmedabad bench of the National Company Law Tribunal admitted a petition to start corporate insolvency resolution proceedings against Gujarat Toolroom on September 30, 2026. The first meeting of the committee of creditors is scheduled for October 30, 2026 at 11:30 a.m. IST, physically and by video conference. An interim resolution professional has been appointed.
Shareholders face uncertainty over debt recovery and any future change in the company's equity. No resolution plan or financial impact was disclosed.