Intelligence note
The clearest competition-premium case in the curated set: two rival applicants - listed Cian Agro and IATSPT - pushed offers up across successive rounds from Rs 8.20 Cr to the Rs 9.50 Cr range before Cian's final plan of 23.08.2025 was approved with 100% CoC voting share (vote dated 06.10.2025). CIRP initiated by Cosmos Co-operative Bank under Section 7.
Case details
CIN
U29248MH2014PTC254415
Incorporated
2014
Registered State
Maharashtra
NCLT Bench
Mumbai
Initiated by
FC — Cosmos Co-operative Bank Limited
Defunct / BIFR
1
Commencement
17 Jan 2025
Outcome Date
24 Mar 2026
Admitted Claims
₹58.13 Cr
Liquidation Value
₹9.09 Cr
Fair Value
₹13.13 Cr
Realisable Amount
₹9.38 Cr
Recovery vs Claims
16.13%
Recovery vs LV
103.2%
NCLT Mumbai: median 550 days admission → verdict · 34% of concluded matters ended in plan approval (n=1,203, full record) · all benches →
Recent movement
17 Jan 2025
CIRP commenced
Insolvency proceedings began · NCLT Mumbai
21 Mar 2025
Expressions of interest invited
RP: Mr. Atul Rajwadkar
24 Mar 2026
Resolution plan approved
Acquired by Cian Agro Industries & Infrastructure Limited
Haircut 83.87%
Haircut 83.87%
Valuations & recovery
Fair value
₹13.13 Cr
Liquidation value
₹9.09 Cr
Recovery vs fair value
71.38%
Recovery vs liquidation value
103.2%
The plan
Successful applicant
Cian Agro Industries & Infrastructure Limited
CoC approval
100.00% voting share · 06 Oct 2025
How the plan pays
·Competitive rounds between Cian and IATSPT lifted offers from Rs 8.20 Cr through Rs 8.90 Cr to the Rs 9.50 Cr range
·Plan participation deposit of Rs 97.50 lakh required from resolution applicants
·Final revised plan received from Cian on 23.08.2025
Contested - rival bids
Industrial Asset Transaction Services Private Ltd (IATSPT)rival prospective resolution applicant through multiple bid rounds
Curated verbatim from the NCLT plan-approval order - the authoritative per-case record. Contingent components pay only if their conditions occur.
EoI / Form-G detail
Case timeline
17 Jan 2025
CIRP commenced
Insolvency proceedings began · NCLT Mumbai
21 Mar 2025
Expressions of interest invited
RP: Mr. Atul Rajwadkar
24 Mar 2026
Resolution plan approved
Acquired by Cian Agro Industries & Infrastructure Limited
Haircut 83.87%
Haircut 83.87%
14 months elapsed · admission → resolution
Company
Legal name
SHUBHADA TOOL INDUSTRIES PRIVATE LIMITED
Type
Private · Company limited by shares
Listing
Unlisted
Incorporated
15 Mar 2014
Authorised capital
₹2.5 Cr
Paid-up capital
₹0.75 Cr
Industry (MCA)
Manufacturing (Machinery and Equipments)
ROC
ROC Mumbai
Company status
Active — company survived resolution
Registered address
23, PUSHPKUNJ COMMERCIAL COMPLEX, 3RD FLOOR, CENTRAL BAZAR ROAD, RAMDASPETH,,NAGPUR,Nagpur,Maharashtra,440010-India
Source: MCA Company / LLP Master Data — registry snapshot; figures are as on the stated date, not live.
Claims filing history
Creditor classes with claims on file (latest version) — a chip with ↓ opens the filed creditor list, with per-creditor claimed and admitted amounts
v1 · latest
as on 31 Jan 2025 · filed by Mr. Atul Rajwadkar
IBBI claims register, filed by the professional under the CIRP/liquidation regulations · a re-filed version means claims were re-verified — cadence is activity, amounts live in the per-class filings.
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 Machinery & Equipment
Haircut83.9%
typical for this sector 77.0% · median of 37
Recovery vs liquidation value103.2%
typical for this sector 113.3% · median of 37
70% of resolutions in this sector recovered more than their liquidation value — this one did.
Time to resolution431 days
typical for this sector 659 days · median of 37
Size rank in sector#18 of 37
Medians across every recorded Machinery & Equipment resolution in stressed.in's IBBI universe — the median, not the average, because these distributions are skewed and the average of the recovery ratio is not a meaningful number. The Code sets a 330-day outer limit; 72% of concluded cases exceed it (n=4,549). How these are computed →
Key parties
Resolution Professional
8 IBBI mandates · 140.5% of liquidation value realised across concluded work
IRP at commencement
Atul Rajwadkar → · Jan 2025
CIRP initiated by
Cosmos Co-operative Bank Limited FC
Resolution applicant
Cian Agro Industries & Infrastructure Limited
Cian Agro Industries & Infrastructure Limited - listed-company acquirer
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