Intimation regarding the commencement of Corporate Insolvency Resolution Process of Tasty Dairy Specialities Limited and appointment of the Interim Resolution Professional by the Hon''ble ....
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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), Allahabad bench, has admitted an insolvency petition filed by Punjab National Bank against Tasty Dairy Specialities Ltd on October 7, 2025, initiating the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016. The total admitted financial debt stands at Rs. 72.59 crore, with the date of default recorded as December 28, 2021. Mr. Anish Agarwal has been appointed as the Interim Resolution Professional (IRP), and a moratorium has been declared under Section 14 of the IBC. The company's Board of Directors has been suspended, with all powers now vested in the IRP. Earlier loan restructuring in August 2022 had failed by June 2023, leading to repeated defaults despite multiple recovery notices under the SARFAESI Act.
This is a deeply negative development for shareholders — the stock is likely to face suspension and significant price erosion. Existing equity holders may face substantial dilution or total write-off depending on the resolution plan approved by the Committee of Creditors, and recovery for shareholders is typically the lowest in the IBC waterfall.