India Ratings withdraws rating on Ballarpur NCDs after IBC settlement

Debt RestructuredCredit & Debt View source PDF

Price reaction · full curve

Awaiting price reaction for this filing.

AI summary

India Ratings has withdrawn its credit rating on Ballarpur Industries 11.75% NCDs (ISIN: INE294A07125) effective 17 July 2026. The company exited the Corporate Insolvency Resolution Process after NCLT Mumbai approved its Resolution Plan on 31 March 2023. Under the approved plan, all debenture holder dues were fully settled and extinguished, making the rating no longer applicable.

Likely market impact

Procedural withdrawal as the NCD no longer exists. Debenture holders were already paid under the 2023 resolution plan.