In continuation of our earlier letter no. QTL/SEC/2025-26/295, dated September 3, 2025, regarding admission of application under Section 7 of the Insolvency Bankruptcy Code 2016 as per ....
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The National Company Law Tribunal (NCLT), Mumbai Bench, admitted a Section 7 application under the Insolvency and Bankruptcy Code, 2016 against Quadrant Televentures Limited (CIRP) by order dated September 2, 2025. Mr. Atul Kumar Kansal has been appointed as the Interim Resolution Professional (Registration No. IBBI/IPA-001/IP-P00035/2016-2017/10088). The company has published a public announcement under Section 15 of the IBC, calling upon all creditors to submit their claims with proof by September 16, 2025. Public advertisements appeared in Financial Express, Jansatta, Loksatta, Kashmir Uzma, Early Times, and Loksatta-Jansatta across editions in Mumbai, Chandigarh, Ahmedabad, Aurangabad, Jammu, Surat and Vadodara. The estimated closure date for the resolution process is March 1, 2026 (180 days from commencement). This is a continuation of the company's earlier disclosure dated September 3, 2025 regarding the admission of insolvency.
This is a major negative development for shareholders as Quadrant Televentures (which operates the Connect Broadband brand) has formally entered corporate insolvency resolution. Trading in the stock may face suspension and equity holders typically face significant dilution or near-total loss in IBC proceedings, since financial creditors are paid first during the resolution process.