Intelligence note
IBBI Vol 10 T7 Part B: RP 2019-03-08; FC claims 29523.86cr, realisable 17.11% of claims / 113.96% of LV. Large account (>1000cr); one of RBI 12 large accounts (RA: Reliance Industries + JM Financial ARC).
◆ Flagged as the dominant case of the quarter — 77.59% of resolved claims.
Claims at a glance
FC 96%
OC 4%
Total admitted ₹30,706.69 Cr
Case details
CIN
L17110DN1986PLC000334
Incorporated
1986
Registered State
Dadra and Nagar Haveli and Daman and Diu
NCLT Bench
Ahmedabad
Initiated by
FC
Defunct / BIFR
0
Commencement
18 Jul 2017
Outcome Date
08 Mar 2019
Admitted Claims
₹29,523.86 Cr
Liquidation Value
₹4,433.00 Cr
Realisable Amount
₹5,052.00 Cr
Recovery vs Claims
17.11%
Recovery vs LV
113.96%
NCLT Ahmedabad: median 537 days admission → verdict · 40% of concluded matters ended in plan approval (n=326, full record) · all benches →
Recent movement
Case timeline
18 Jul 2017
CIRP commenced
Insolvency proceedings began · NCLT Ahmedabad
1 year 7 months elapsed · admission → resolution
08 Mar 2019
Resolution plan approved
Haircut 82.89%
Company
Type
Public · Company limited by shares
Listing
Listed
Incorporated
12 Mar 1986
Authorised capital
₹4,250 Cr
Paid-up capital
₹4,046.52 Cr
Industry (MCA)
Manufacturing (Textiles)
ROC
ROC Ahmedabad
Company status
Active — company survived resolution
Registered address
17/5/1, 521/1, Village Rakholi/ Saily,,Silvassa,Dadra & Nagar Haveli,396230-India
Source: MCA Company / LLP Master Data — registry snapshot; figures are as on the stated date, not live.
Claims profile
Admitted claims by creditor class
FC 96%
OC 4%
CLASS
ADMITTED
Financial creditors
₹29,523.86 Cr
Operational creditors
₹1,182.83 Cr
Total
₹30,706.69 Cr
admitted total/FC/OC from IBBI outcome file (crores); claimed & 9-category pending /claims scrape
Source: IBBI outcome data / Reg 31(5)(d) claims list · crores as filed · admitted "pending" = under collation or verification, not zero.
Committee of creditors
CoC composition not yet recorded for this case. Sourced from NCLT filings — added over time.
About this data: Case data is assembled from NCLT/NCLAT orders, IBBI public announcements, quarterly outcome records and the MCA registry. See how every number is sourced, checked and corrected →.
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This case vs Textiles & Apparel
Haircut — 82.9%8 pts worse
sector avg 74.9% · 78 resolutions
Rec vs LV — 114.0%-544.8 pts
sector avg 658.8%
Duration — 598d107d faster
sector avg 705d
Size rank in sector#1 of 78
Computed live across stressed.in's IBBI universe — every recorded Textiles & Apparel outcome of this type.
Key parties
Resolution Professional
2 IBBI mandates · 115.7% of liquidation value realised across concluded work
IRP at commencement
Ajay Joshi → · Jul 2017
Resolution applicant
Not yet recorded — from NCLT resolution-plan order.
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