Intelligence note
Admitted to insolvency on 13 Mar 2026 by the Mumbai bench, on a petition by Union Bank of India. The process was withdrawn on 22 Jul 2026, 131 days after admission (median for withdrawn cases: 91 days).
Case details
CIN
U17120PN1998PLC012939
Incorporated
1998
Registered State
Maharashtra
NCLT Bench
Mumbai
Petition
CP(IB)/1122/MB/2025
Initiated by
Union Bank of India
Commencement
13 Mar 2026
Outcome Date
22 Jul 2026
NCLT Mumbai: median 553 days admission → verdict · 34% of concluded matters ended in plan approval (n=1,250, full record) · all benches →
Recent movement
05 Jul 2018
Allowed
NCLAT appeal
13 Mar 2026
CIRP commenced
Insolvency proceedings began · NCLT Mumbai
22 Jul 2026
Withdrawn
CIRP withdrawn — typically settlement with the applicant
Case timeline
05 Jul 2018
Allowed
NCLAT appeal
13 Mar 2026
CIRP commenced
Insolvency proceedings began · NCLT Mumbai
22 Jul 2026
Withdrawn
CIRP withdrawn — typically settlement with the applicant
4 months elapsed · admission → resolution
Company
Type
Public · Company limited by shares
Listing
Unlisted
Incorporated
09 Oct 1998
Authorised capital
Rs 43.00 Cr
Paid-up capital
Rs 42.15 Cr
Industry (MCA)
Manufacturing (Textiles)
ROC
ROC Pune
Company status
Under CIRP
Registered address
Flat no 104 Suwarnanand Park, Plot no 48 49 Laxmi Park colony, Navi Peth,Pune,Pune,Maharashtra,411030-India
Sources, basis and disclaimers → ·
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Key parties
Resolution Professional
15 IBBI mandates · 148% of liquidation value realised across concluded work
IRP at commencement
Ankur Kumar → · Mar 2026
CIRP initiated by
Union Bank of India
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