India NCLT Insolvency Resolution Filings — July 22, 2026

22-07-2026

Electrotherm (India) Limited received NCLT approval to issue 1,09,50,000 (1.095 Cr) new 6% Non-Cumulative Redeemable Preference Shares (NCRPS) of ₹10 each to five existing preference shareholders, effectively redeeming the corresponding unredeemed preference shares of ₹12,00,00,000 (₹12 Cr). However, one non-consenting shareholder, Ahmedabad Aviation and Aeronautics Limited, must be redeemed immediately for 10,50,000 preference shares at par. The issuance does not increase or reduce the company's share capital.

• · The NCLT order was dated 21st July 2026, and the company downloaded the copy on the same day at 5:30 p.m.
• · The new NCRPS are redeemable not earlier than 2 years and not later than 20 years from allotment.
• · The issuance is under Section 55(3) of the Companies Act, 2013, which allows issuance of preference shares to redeem existing unredeemed preference shares.
• · The non-consenting shareholder (Ahmedabad Aviation and Aeronautics Limited) holds 10,50,000 preference shares that must be redeemed forthwith at par.

22-07-2026

Harish Textile Engineers Limited disclosed that the Hon'ble NCLT, Mumbai Bench, has reserved its order on an insolvency petition filed by M/s. Kamlesh Corporation under Section 9 of the IBC, after declining further adjournments and hearing the applicant's submissions. The company states there is no material impact on its financial or operational activities at this stage, but the final outcome remains uncertain.

• · The NCLT order was dated 10 July 2026 and uploaded on 21 July 2026, coming to the company's knowledge on the same day.
• · The petition was filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 for alleged outstanding operational dues.
• · The company's reply will be considered by the NCLT when disposing of the matter.
• · The financial impact, if any, is not presently ascertainable and depends on the final outcome.

22-07-2026

SAB Events & Governance Now Media Limited has scheduled a Board Meeting for July 25, 2026, to implement a Resolution Plan approved by the NCLT Mumbai Bench on July 10, 2026. The plan involves cancellation of all promoter-held equity shares and a 100:5 reduction of public shareholders' equity shares, effectively restructuring the company's share capital. This follows the company's insolvency proceedings under the Insolvency and Bankruptcy Code, 2016.

• · The NCLT Mumbai Bench approved the Resolution Plan on July 10, 2026, with certified copy received on July 21, 2026.
• · Promoter-held equity shares will be fully cancelled and extinguished, reducing the company's equity share capital.
• · Public shareholders will face a 100:5 reduction, meaning for every 100 shares held, only 5 will remain.
• · A Record Date will be fixed for the cancellation and reduction of shares.

22-07-2026

Mercantile Ventures Limited announced that the National Company Law Tribunal (NCLT), Chennai, has approved the Scheme of Amalgamation between its subsidiary Walery Security Management Limited (Transferor Company) and its wholly owned subsidiary i3 Security Private Limited (Transferee Company). The scheme, with an appointed date of January 1, 2024, is an internal reorganization that does not change the listed company's shareholding pattern. The Transferor Company had nil turnover in FY2025-26, while the Transferee Company reported turnover of Rs. 5087.67 lakhs, and the amalgamation aims to consolidate resources and streamline management.

• · The NCLT order was pronounced on 13th July 2026 in petition CP(CAA)/70(CHE)/2024.
• · The appointed date for the scheme is January 01, 2024.
• · The Transferor Company (Walery Security Management Limited) had nil turnover for FY2025-26.
• · The Transferee Company (i3 Security Private Limited) had turnover of Rs. 5087.67 lakhs for FY2025-26.
• · The share exchange ratio is 5 equity shares of Rs. 10 each in the Transferee Company for every 2 equity shares of Rs. 10 each in the Transferor Company.
• · No consideration is payable by the listed company (Mercantile Ventures Limited).
• · The Transferor Company had 14 equity shareholders as on 29.02.2024; 9 shareholders attended the meeting and unanimously approved the scheme.
• · The Regional Director filed a report on 10.09.2025 expressing 'No Objection' to the scheme.
• · The Transferor Company ceased its housing finance activity from 28-02-2023 and later amended its objects to security services.

22-07-2026

Prime Focus Limited (PFL) disclosed that its step-down subsidiary, PF Media Ltd, has been voluntarily liquidated effective July 13, 2026, due to no ongoing operations. The liquidation was confirmed by the Registrar of Companies, Mauritius on July 22, 2026. PF Media had nil turnover and a net worth of ₹69.22 crore (0.03% of PFL's net worth) as of March 31, 2026, indicating a negligible financial impact on the parent company.

• · PF Media had nil turnover as of March 31, 2026.
• · The liquidation was voluntary due to no ongoing operations.
• · Effective date of liquidation: July 13, 2026.
• · Confirmation from Registrar of Companies, Mauritius received on July 22, 2026.

22-07-2026

Dollar Industries Limited held meetings of its Equity Shareholders and Unsecured Creditors on July 22, 2026, pursuant to an NCLT order dated May 11, 2026, to seek approval for a Composite Scheme of Arrangement. The scheme involves the merger of nine entities (including Dindayal Texpro Private Limited, Dollar Brands Private Limited, and others) into Dollar Industries Limited under Sections 230-232 of the Companies Act, 2013. The resolutions were passed with the requisite majority, and the company will file the voting results and scrutinizer's report with the NCLT.

• · The NCLT, Kolkata Bench, convened the meetings via its order dated May 11, 2026.
• · The Equity Shareholders meeting lasted from 12:00 P.M. to 12:49 P.M. IST, and the Unsecured Creditors meeting from 2:30 P.M. to 2:49 P.M. IST.
• · Remote e-voting was open from 9:00 A.M. on July 19, 2026, to 5:00 P.M. on July 21, 2026.
• · The cut-off date for Equity Shareholders to vote was July 15, 2026, and for Unsecured Creditors was March 31, 2026.
• · The resolution required approval by a majority representing three-fourths in value of the shareholders present and voting.

22-07-2026

GB Global Limited has informed the stock exchanges that the National Company Law Tribunal (NCLT), Mumbai Bench, has reserved its order on the company's petition (C.P. (CAA) 6/MB/2026) concerning a Scheme of Merger by Absorption with Dev Land and Housing Private Limited. The order was passed on July 21, 2026, and received by the company on July 22, 2026. No financial figures or performance metrics are disclosed in this filing.

• · The NCLT order was passed on July 21, 2026, and the company received it on July 22, 2026.
• · The petition (C.P. (CAA) 6/MB/2026) is related to a Scheme of Merger by Absorption where GB Global Limited is the Transferor Company and Dev Land and Housing Private Limited is the Transferee Company.
• · The matter was heard on July 15, 2026, with written submissions taken on record before being reserved for orders.

22-07-2026

Hemadri Cements Limited, which has been in voluntary liquidation since July 14, 2025, has commenced distribution of proceeds to its equity shareholders. The liquidator has paid ₹72,52,960 to shareholders holding shares in demat form, representing the face value of ₹10 per share for 7,25,296 shares. The company is in the process of winding up and has been under liquidation for over a year.

• · The company has been in voluntary liquidation since July 14, 2025, over a year before this filing.
• · The distribution is at face value (₹10 per share), indicating no premium or surplus for shareholders.
• · Shareholders holding physical shares have not yet received payment and need to update their details with the RTA.
• · The liquidator's IBBI registration is valid until December 31, 2026.

22-07-2026

Vikas WSP Ltd. (under CIRP) disclosed that on July 22, 2026, the NCLT Chandigarh Bench heard IA (I.B.C.) No. 1538/2022 regarding approval of the Resolution Plan and reserved its order. The company has been under corporate insolvency resolution process since February 2, 2022, with Mr. Darshan Singh Anand serving as Resolution Professional. No financial figures or performance metrics were provided in this filing.

• · The company has been under CIRP since February 2, 2022, with the Resolution Professional managing its affairs.
• · The NCLT Chandigarh Bench reserved its order on the Resolution Plan approval application (IA No. 1538/2022) on July 22, 2026.
• · No financial data, revenue, or operational metrics were disclosed in this filing.