In continuation of our earlier letter no. QTL/SEC/2024-25/192, dated April 2, 2024 with respect to the filing of an application under Section 7 of Insolvency and Bankruptcy Code 2016 before ....
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The National Company Law Tribunal (NCLT), Mumbai bench has admitted an insolvency petition against Quadrant Televentures Limited under Section 7 of the Insolvency and Bankruptcy Code, 2016. The petition was filed by IDBI Trusteeship Services Limited over a default of Rs. 364.86 crore. This is a continuation of an earlier application filed on April 2, 2024, which has now been formally admitted on September 2, 2025. With the admission, the company has entered the corporate insolvency resolution process (CIRP). A resolution professional is expected to be appointed to manage the affairs of the company going forward.
This is significantly negative for shareholders. With NCLT admitting the insolvency petition, the company enters CIRP which may lead to restructuring, sale, or liquidation. Equity shareholders are typically the last in the priority list and often face heavy dilution or total loss of value.