In continuation of our earlier letter no. QTL/SEC/2025-26/294, dated September 2, 2025, with respect to the admission of the application/petition under Section 7 of the Insolvency and Bankruptcy ....
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Awaiting price reaction for this filing.
The National Company Law Tribunal (NCLT), Mumbai Bench, has admitted an insolvency petition filed by IDBI Trusteeship Services Limited against Quadrant Televentures Ltd under Section 7 of the Insolvency and Bankruptcy Code, 2016. The petition was filed on behalf of financial creditors including IDBI Bank, Kotak Mahindra Bank, SBI, and PNB, with a total claimed default of Rs. 364.86 crore (date of default: 01.08.2017). Mr. Atul Kumar Kansal has been appointed as the Interim Resolution Professional (IRP), and a moratorium under Section 14 of the IBC has been imposed. The management of the company will now vest in the IRP. QTL, a telecom services provider (earlier HFCL Infotel), was acquired by the Videocon group in 2009 and has accumulated losses of Rs. 2,45,318.78 lakhs as of March 2023, fully eroding its net worth.
This is a major negative event for shareholders — corporate insolvency resolution has formally commenced, management control has shifted to the IRP, and equity holders face significant risk of dilution or total loss depending on the resolution plan or liquidation outcome. The stock is likely to see sharp pressure, and recovery actions by creditors are stayed under the moratorium.