NCLT has directed issuance of fresh Form-G and CIRP Process be completed within 100 days.
Awaiting price reaction for this filing.
The NCLT, at a hearing on March 13, 2026, has ordered Educomp Solutions to issue a fresh Form G (public invitation for resolution plans) and complete the entire Corporate Insolvency Resolution Process (CIRP) within 100 days. This essentially restarts the bidding process for the company after the previously approved Resolution Plan failed to be implemented by the Successful Resolution Applicant (SRA). NCLT has also directed the IBBI to investigate the SRA's failure to implement the approved plan and, if offences are found, file a complaint under Section 236 of the Insolvency and Bankruptcy Code. Multiple pending applications were disposed of, including contempt petitions by the ERP and IDBI Bank against the SRA, and SBI's plea for implementation of the approved plan. The ex-promoter Mr. Shantanu Prakash's plea to de-freeze his shareholding was disposed of with liberty to approach the Resolution Professional.
Negative for shareholders — the collapse of the earlier resolution plan means continued uncertainty and likely further erosion of equity value as a fresh resolution process begins. Creditors like SBI and IDBI Bank remain exposed, and the 100-day timeline adds pressure but may not result in a fair recovery for existing equity holders.