Bhuwalka Steel Industries Limited

Corporate insolvency resolution — resolution plan approved · source: NCLT order, 24 Jun 2022

Sector Steel & Metals Bench NCLT Bengaluru Last process activity 10 months ago · tribunal order

Acquired by

Starteck Finance Limited

Named in the NCLT plan-approval order.

Case record

at a glance

Admitted by the Bengaluru bench on a petition by an operational creditor. Current status: Resolved.

Admission to plan approval

3 yr 2 mo

This case

NCLT Bengaluru median · 1 yr 9 mo

All India median · 1 yr 8 mo

Medians: time from admission to plan approval, over closed cases (n = 47 / 1,536). Pre-packs left out.

The company

Listed public limited company in Steel & Metals, registered in Karnataka

Admitted claims

₹500–2,000 Cr

Where the process stands

Admitted→Expression of Interest invited→Resolution plan approved

How cases like this ended

Steel & Metals · 274 closed

Resolved 62% · Liquidation 31% · Withdrawn or closed 7%

NCLT Bengaluru · 256 closed

Resolved 18% · Liquidation 52% · Withdrawn or closed 30%

Resolved cases in this sector: creditors' typical haircut 82.0% n=165

Liquidations in this sector: typical recovery 3.8% of claims n=65

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Recovery, haircut & plan valueCommittee of creditorsFinancialsCompany & MCA recordTimeline & key dates · 4 tribunal ordersProfessionalsBenchmarks against this caseIntelligence note

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