BSEGangotri Textiles LtdCriticalNegative
Announced Wed, 14 Oct, 2026 · 12:51 IST
NCLT admits insolvency plea; CIRP begins, board suspended
Price reaction
Awaiting price reaction for this filing.
AI summary
NCLT Chennai admitted Gangotri Textiles' insolvency petition on 7 Aug 2026 under Section 10 of the Insolvency and Bankruptcy Code. Mr. G. Gunasekaran was appointed as Interim Resolution Professional. Board of Directors' powers stand suspended from the order date, and he replaces Manoj Kumar Tibrewal as Compliance Officer.
Likely market impact
Equity holders face high risk of dilution or write-off as IRP takes control under IBC; expect trading suspension and heightened price volatility.