India NCLT Insolvency Resolution Filings — June 17, 2026

17-06-2026

Bharti Airtel received a penalty notice of ₹2,08,000 from the Department of Telecommunications (Karnataka LSA) for alleged violation of subscriber verification norms identified during a CAF Audit for April 2026. The company has opted to pay the penalty and not contest it, minimizing further legal exposure.

• · The penalty stems from DoT’s CAF Audit for April 2026, which alleged non-compliance with subscriber verification norms under the License Agreement.
• · The notice was received on June 16, 2026 at IST 2250 Hrs.
• · Maximum financial impact is limited to the penalty amount of ₹2,08,000, as the company opted to pay rather than contest.

17-06-2026

JLA Infraville Shoppers Limited has been admitted to Corporate Insolvency Resolution Process (CIRP) by the NCLT Bengaluru Bench on a petition filed by Sital Leasing and Finance Limited under Section 7 of the IBC, 2016. The admission follows a default on a short-term unsecured working capital loan of ₹2,38,35,000 (principal) plus interest, totaling ₹2,43,53,158 due on 11.10.2025. The Corporate Debtor's objections—including claims of no financial debt, no crystallized default, and existence of a dispute—were rejected by the Tribunal, which found the debt and default established. A moratorium has been declared, and Mr. Dinesh Chander Gupta has been appointed as Interim Resolution Professional.

• · The petition was filed on 16.12.2025 and the order was delivered on 16.04.2026.
• · The loan agreement was dated 10.07.2025 with a fixed tenure of three months, becoming due on 11.10.2025.
• · The Corporate Debtor's objections included that the transaction lacked 'time value of money' and therefore did not constitute a financial debt; the Tribunal rejected this citing the 10% interest rate.
• · The Corporate Debtor had sought extension of time via reply dated 15.10.2025, but the petitioner rejected it via Final Recall Notice dated 29.10.2025.
• · The IRP is directed to file a report certifying constitution of the Committee of Creditors within 30 days of appointment and convene the first meeting within 7 days thereafter.
• · The Financial Creditor must deposit ₹2,00,000 with the IRP for expenses related to public notice and inviting claims.
• · The case is listed for next hearing on 01.07.2026 awaiting the IRP report.

17-06-2026

Impex Ferro Tech Limited, currently undergoing Corporate Insolvency Resolution Process (CIRP), has scheduled the 28th meeting of its Committee of Creditors (CoC) for June 19, 2026, in hybrid mode. The meeting will be held at A.K. Sarawagi & Co., Kolkata, at 17:00 IST, as intimated by Resolution Professional Ashok Kumar Sarawagi.

• · The meeting is scheduled for June 19, 2026, at 17:00 IST.
• · The meeting will be held in hybrid mode (physical and virtual) at A.K. Sarawagi & Co., Poddar Court, 18, Rabindra Sarani, Gate-3, 5th floor Room No.4, Kolkata-700001.
• · The Resolution Professional's IBBI Registration No. is IBBI/IPA-001/IP-P00171/2017-18/10340.
• · Authorization for Assignment (AFA) is valid until December 31, 2026.

17-06-2026

Mahindra & Mahindra Ltd. announced that its subsidiary Mahindra Agri Solutions Ltd. (MASL) will see its stake in joint venture Mahindra Summit Agriscience Ltd. (MSAL) diluted from 60% to 58.8% following a share subscription by Summit Agro International Ltd. (SAI). As a result, MSAL will cease to be a step-down subsidiary and become an associate, with equal voting rights and board representation for both partners. The transaction is relatively small, with MSAL's net worth of ₹35.93 crore contributing only 0.023% to M&M's consolidated net worth.

• · MSAL is a joint venture in which MASL (M&M subsidiary) held 60% and SAI held 40% of paid-up equity share capital (face value ₹10 each).
• · SAI will subscribe to Class A Equity Shares of MSAL (face value Re.1 per share) with differential voting rights.
• · After allotment, MASL and SAI will hold 58.8% and 41.2% respectively of total paid-up share capital (including Class A shares), but will have equal voting rights.
• · A First Amendment Agreement to the Shareholders’ Agreement dated 12th October 2018 provides for equal board representation.
• · MSAL will cease to be a subsidiary of MASL and become an associate, ceasing to be a step-down subsidiary of M&M.
• · MSAL's Revenue from Operations for FY ended 31 March 2026 was ₹236.09 crore.
• · MSAL's Net Worth as on 31 March 2026 was ₹35.93 crore.
• · MSAL contributed ₹21.56 crore (0.023%) to M&M's consolidated net worth (excluding non-controlling interest).

17-06-2026

McNally Bharat Engineering Company Ltd disclosed receipt of an NCLT order dated June 10, 2026, regarding implementation of Clause 5.5.2.2 of the Resolution Plan. The order was received by the company on June 15, 2026, and filed with the stock exchange within 24 hours. No financial figures or performance metrics were provided in this filing.

• · NCLT Kolkata Bench issued order on June 10, 2026, regarding implementation of Clause 5.5.2.2 of the Resolution Plan.
• · Company received the order on June 15, 2026, and filed with BSE within 24 hours.
• · This is an update to a prior disclosure filed on June 15, 2026.

17-06-2026

Birlasoft has been recognized as an 'Enterprise Innovator' in the HFS Horizons: Next-Gen IT Infrastructure Services, 2026 report by HFS Research. The recognition highlights Birlasoft's AI-first infrastructure capabilities and platform-led approach, anchored in its Sigma ecosystem (including Sigma Orion, Sigma GenEx, Sigma AIOps, and Sigma B-Secure). The company's CEO, Angan Guha, emphasized the commitment to reimagining infrastructure through an AI-first lens, while HFS Research CEO Phil Fersht noted Birlasoft's focus on building reusable platforms and AI-ready foundations.

• · Birlasoft is part of the multibillion-dollar CKA Birla Group.
• · The HFS Horizons framework evaluates service providers across innovation, execution, ecosystem integration, and market impact.
• · Horizon 2 recognizes organizations enabling end-to-end, infrastructure-led transformation at scale.
• · Birlasoft's over 11,000 professionals drive innovation.
• · The CKA Birla Group has over 35,000 employees and operates more than 50 manufacturing facilities globally.

17-06-2026

TCS announced a multi-year strategic partnership with Elopak ASA, a global leader in paper-based packaging, to transform and manage Elopak's global IT operations using AI, cloud, and automation. TCS will deploy its proprietary Cognix™ service delivery suite to modernize Elopak's IT landscape, supporting its growth and sustainability goals. This deal strengthens TCS' presence in the Nordic region, though no specific financial terms or revenue guidance were disclosed.

• · No financial terms or contract value of the multi-year deal were disclosed.
• · The partnership includes setting up an integrated service desk and upgrading key enterprise applications.
• · Elopak has set Science Based Targets to reduce emissions in line with a 1.5-degree trajectory for scope 1 and 2, with a net-zero commitment by 2050.
• · TCS sponsors 14 major marathons including TCS New York City Marathon, TCS London Marathon, and TCS Sydney Marathon.
• · TCS has been recognized as a Great Place to Work across the Nordic region.
• · Elopak was founded in Norway in 1957 and is listed on the Oslo Stock Exchange.

17-06-2026

NIIT Limited has received the certified copy of the NCLT order dated May 22, 2026, approving the scheme of amalgamation of NIIT Institute of Finance Banking & Insurance Training Limited and RPS Consulting Private Limited into NIIT Limited. The appointed date for the scheme is April 1, 2026. The scheme will be effective upon filing the order with the Registrar of Companies, Haryana. The NCLT order notes disputed tax and service tax amounts (Rs. 32,352 thousand for Transferor Company 1, Rs. 2.18 million, Rs. 9.41 million, and Rs. 11.37 million for the Transferee Company) which the amalgamated company undertakes to pay upon final adjudication.

• · Certified copy of NCLT order approving the amalgamation scheme received on June 16, 2026.
• · Appointed date for the scheme is April 1, 2026.
• · Scheme effective upon filing of the order with Registrar of Companies, Haryana.
• · The Regional Director / ROC raised observations regarding disputed statutory dues which the amalgamated company has undertaken to pay upon final adjudication.
• · The Income Tax Department and Official Liquidator filed reports stating no objection to the scheme.
• · The NCLT clarified the order does not grant exemption from stamp duty, taxes, or any other charges required under law.

17-06-2026

Vivimed Labs Ltd has published Form G under the Insolvency and Bankruptcy Code, inviting expressions of interest for the corporate insolvency resolution process (CIRP). The company reported revenue from operations of INR 103.60 Cr for FY 2024-25 and INR 136.80 Cr for FY 2023-24, but revenue for the nine months ended December 31, 2025, fell sharply to INR 48.23 Cr, indicating a significant decline in business performance. The company operates multiple pharma manufacturing units in Telangana, Uttarakhand, Karnataka, and Andhra Pradesh, with a workforce of 352 employees.

• · Installed capacities: Tablets 300 Million, Capsules 580 Million, Topicals 71 Million, Orals 12 Million, Nasal Sprays & Opthalmics 22.5 Million.
• · Manufacturing facilities located in Hyderabad (Telangana), Kashipur and Haridwar (Uttarakhand), Bidar (Karnataka - non-operational), and Pydibheemavaram (Andhra Pradesh).
• · Last date for receipt of expression of interest: 29/06/2026.
• · Date of issue of provisional list of prospective resolution applicants: 09/07/2026.
• · Last date for submission of resolution plans: 28/08/2026.

17-06-2026

Parsvnath Developers Limited has informed the stock exchanges that its Committee of Creditors, in a meeting held on June 10, 2026, has appointed Mr. Manoj Kumar Anand as the Resolution Professional for the company under the insolvency process. The appointment was confirmed via e-voting concluded on June 16, 2026, with a requisite majority vote. This marks a significant step in the corporate insolvency resolution process for the company.

• · The Committee of Creditors held its 1st meeting on June 10, 2026, to consider the appointment of the Interim Resolution Professional as Resolution Professional.
• · The e-voting process concluded on June 16, 2026, at 07:00 P.M.
• · Mr. Manoj Kumar Anand holds IBBI Registration No. IBBI/IPA-001/IP-P00084/2017-18/10180.

17-06-2026

Palco Metals Limited has received an order from the Hon'ble NCLT, Ahmedabad Bench, dated June 16, 2026, allowing the First Motion Application for a Scheme of Arrangement between Palco Metals (Transferee Company) and Palco Recycle Industries Limited (Transferor Company). The NCLT has directed the convening of meetings of equity shareholders and creditors within 45 days, with a report to be filed within 7 days of the meetings. The scheme remains subject to shareholder and creditor approvals, NCLT sanction, and other regulatory clearances.

• · The NCLT order was issued on June 16, 2026, and the filing was made on June 17, 2026.
• · Meetings are required for: (1) Equity Shareholders of Transferee Company, (2) Secured Creditors of Transferor Company, (3) Unsecured Creditors of both Transferor and Transferee Companies.
• · The scheme is under Sections 230 to 232 of the Companies Act, 2013.
• · Earlier intimations were dated May 30, 2025, and June 30, 2025.