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Home/ Cases/ SHREESATYA SPONGE & POWER PRIVATE LIMITED
● UNDER CIRP

SHREESATYA SPONGE & POWER PRIVATE LIMITED

Corporate insolvency resolution — proceedings ongoing · source: NCLT order (pre-PA) - Newly Admitted

Admitted by NCLT on 23 Sep 2026. IBBI's public announcement is awaited; the claim deadline and other IBBI details will appear here once it is published.

Business: The company, incorporated on 10-Dec-2016, is engaged in the manufacturing and supply of structural steel products, including TMT bars, flat bars, round bars, square bars, billets, sponge iron and angles; its letterhead in the order gives Primarc Tower, DN-36, Sector V, Salt Lake City, Kolkata 700091. · 10 years old at admission

Bench NCLT Kolkata CIN U27200WB2016PTC217058 Admitted 23 Sep 2026 Initiated by FC — Jagannath Textile Company Private Limited
CIRP statutory clock · day 5 of the process
180d
base 270d
extended 330d
outer limit
Admitted 23 Sep 2026 · 5 days elapsed 175 days to the 180-day base deadline
OWED MONEY BY THIS COMPANY?
The last date in the public announcement is not on our record. Regulation 12 lets a creditor file up to 22 Dec 2026 — 85 days left — ninety days from admission on 23 Sep 2026, or later still if the request for resolution plans has not yet gone out. File with Pratim Bayal on the official form for your creditor category.
Reg. 12, IBBI (CIRP) Regulations 2016
How to file your claim → The professional’s record →
Public Announcement
—
CIRP admission notice
EoI Deadline
—
expression of interest
PRA List
—
prospective applicants
Objections By
—
to provisional list
In CIRP
5d
since admission
Statutory Position
Day 5
175d to 180-day base

Intelligence note

Admitted to insolvency on 23 Sep 2026 by the Kolkata bench, on a petition by Jagannath Textile Company Private Limited (a financial creditor). The process is 5 days old as of 28 Sep 2026; cases that ended in a resolution plan took a median of 624 days. Pratim Bayal is the resolution professional.

Jagannath Textile Company filed under Section 7 over an unsecured three-month loan of Rs. 1,00,00,000/- at 12% disbursed on 11-Jul-2025, claiming Rs. 1,09,56,712/- as of 28-Apr-2026; the repayment cheque was dishonoured on 26-Dec-2025 ('Payment stopped by drawer'). The company argued there was no loan agreement and that without interest the claim fell below Rs. 1 crore; the tribunal held its own 'Money Receipt' letter and admitted RTGS receipt proved a financial debt. Mr. Pratim Bayal was appointed IRP. The Kolkata bench admitted the petition on 23-Sep-2026.

Case details

CIN
U27200WB2016PTC217058
Incorporated
2016
Registered State
West Bengal
NCLT Bench
Kolkata
Petition
Company Petition (IB) No. 135/KB/2026
Initiated by
FC — Jagannath Textile Company Private Limited
Commencement
23 Sep 2026

NCLT Kolkata: median 437 days admission → verdict · 33% of concluded matters ended in plan approval (n=530, full record) · all benches →

Recent movement

full timeline →
23 Sep 2026
CIRP commenced
Insolvency proceedings began · NCLT Kolkata
During process
Resolution Professional
Pratim Bayal
Ongoing
Under CIRP — outcome awaited
No resolution plan approval or liquidation order yet in our sources

Financial summary

Claimed in default
Rs 1.10 Cr claimed — not yet crystallised

Case timeline

23 Sep 2026
CIRP commenced
Insolvency proceedings began · NCLT Kolkata
During process
Resolution Professional
Pratim Bayal
Ongoing
Under CIRP — outcome awaited
No resolution plan approval or liquidation order yet in our sources

Business, promoters & security

Business: The company, incorporated on 10-Dec-2016, is engaged in the manufacturing and supply of structural steel products, including TMT bars, flat bars, round bars, square bars, billets, sponge iron and angles; its letterhead in the order gives Primarc Tower, DN-36, Sector V, Salt Lake City, Kolkata 700091.

Petition
Company Petition (IB) No. 135/KB/2026 · Section 7
Sources, basis and disclaimers → ·
report an error
Key parties
Resolution Professional
Pratim Bayal →
25 IBBI mandates · 92.5% of liquidation value realised across concluded work
IRP at commencement
Pratim Bayal → · Sep 2026
CIRP initiated by
Jagannath Textile Company Private Limited FC

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