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BSEQuasar India LtdCriticalNegative
Announced Wed, 4 Nov, 2026 · 17:20 IST

NCLT admits insolvency petition against Quasar India

NCLT admitted insolvencyRegulatory & Legal View source PDFExplain this filing
Price reaction

Awaiting price reaction for this filing.

AI summary

The NCLT, New Delhi admitted Bikit Private Limited's Section 9 IBC petition on 31 October 2026, starting the corporate insolvency resolution process (CIRP) against Quasar India. The petition seeks Rs 6,14,52,745, comprising Rs 5,39,50,000 principal and Rs 75,02,745 interest. Raghunath Bhandari was appointed to manage the company.

Likely market impact

CIRP admission signals severe distress and shifts board control to the interim professional. Shareholders face heightened dilution or total loss risk.