BSEGangotri Textiles LtdCriticalNegative
Announced Fri, 21 Aug · 16:20 IST
NCLT admits insolvency resolution process against Gangotri Textiles
Price reaction · full curve
Awaiting price reaction for this filing.
AI summary
NCLT Chennai admitted Gangotri Textiles own petition under Section 10 of IBC to initiate Corporate Insolvency Resolution Process on August 7, 2026. Total debt in default is about Rs 240.47 crore owed to financial creditors including SBI consortium and IDBI Bank. An interim resolution professional was appointed and moratorium imposed under Section 14.
Likely market impact
Stock trading likely suspended; CIRP signals severe financial distress; existing equity may be diluted or wiped out during resolution.