With reference to our earlier intimations, we would like to inform that the insolvency proceeding initiated by JCF ARC was subsequently heard by NCLT, Bengaluru Bench. NCLT, Bengaluru ....
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Satchmo Holdings has informed the exchange that the National Company Law Tribunal (NCLT), Bengaluru Bench has passed an order disposing of the insolvency proceedings and dismissing the Section 7 CIRP application filed by JCF Asset Reconstruction Company (ARC) against the company. In October 2025, the company had paid the full One-Time Settlement (OTS) amount of Rs. 70 crores to JCF ARC, following which the ARC had discharged the mortgage and returned the original title documents. However, on November 6, 2025, JCF ARC revoked the in-principle OTS, which the company is disputing and challenging through legal recourse. Despite the ongoing OTS revocation dispute, the NCLT has now dismissed the insolvency case, ending this particular proceeding.
This is a positive outcome for shareholders as the immediate insolvency threat has been removed by the NCLT dismissal. However, the unresolved revocation of the Rs. 70 crore OTS and the resulting legal dispute with JCF ARC remain a key overhang that investors should watch closely.