Nova Steels (India) Limited

Corporate insolvency — liquidated & dissolved · source: order listed by IBBI, 10 Aug 2021

Sector Steel & Metals Bench NCLT Cuttack Last process activity 5 years ago · claims re-verified

Case record

at a glance

Admitted by the Cuttack bench on a petition by an operational creditor. Current status: Liquidation — Dissolved.

Admission to liquidation order

1 yr 5 mo

This case

NCLT Cuttack median · 1 yr 1 mo

All India median · 1 yr 1 mo

Medians: time from admission to a liquidation order, over closed cases (n = 30 / 3,073). Pre-packs left out.

The company

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

Admitted claims

Under ₹10 Cr

Where the process stands

Admitted→Liquidation ordered→Dissolved

How cases like this ended

Steel & Metals · 274 closed

Resolved 62% · Liquidation 31% · Withdrawn or closed 7%

NCLT Cuttack · 77 closed

Resolved 21% · Liquidation 42% · Withdrawn or closed 38%

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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8 sections of this case are locked.

Admitted claims & creditor classesRecovery & distributionCommittee of creditorsCompany & MCA recordTimeline & key dates · 2 tribunal ordersProfessionalsBenchmarks against this caseIntelligence note

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