New Resolution Professional appointed to continue CIRP

The company is back under active insolvency proceedings after NCLAT set aside the earlier liquidation order. Originally admitted into liquidation by NCLT in April 2022, NCLAT stayed the liquidation in July 2022 and later overturned it in March 2026, directing the Committee of Creditors to appoint a new Resolution Professional. Mr. Sumeet Surendra Chimbalkar has now been appointed as the new RP under IBC 2016 to continue the Corporate Insolvency Resolution Process.