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India NCLT Insolvency Resolution Filings — February 13, 2026

India Corporate Insolvency & NCLT

16 high priority5 medium priority21 total filings analysed

Executive Summary

Across 21 filings in the India Corporate Insolvency & NCLT stream (Feb 13, 2026), 14 highlight ongoing CIRP distress with prolonged CoC meetings (e.g., 58th for Videocon and Value Industries, 26th for Jaiprakash Associates), signaling delays beyond standard 180-day IBC timelines and elevated liquidation risks; Punj Lloyd advanced to liquidation post-NCLT order. No quantitative enriched data like YoY/QoQ financial trends, creditor claims, default amounts, or resolution plans disclosed in any filing, amplifying uncertainty. Neutral Reg 30 updates from healthy giants (ICICI Bank ESOPs, Airtel call payments/earnings transcript, IndiGo, Adani acquisition, ONGC/TVS media) contrast sharply, indicating sector bifurcation. Portfolio-level pattern: 67% filings bearish/critical risk (avg materiality 9/10), no bullish forward guidance or insider buys; watch Feb 14-17 CoC meetings for resolution catalysts. Implications: Avoid/ short distressed names, favor stable large-caps amid insolvency wave.

Tracking the trend? Catch up on the prior India NCLT Insolvency Resolution Filings digest from February 12, 2026.

Investment Signals(12)

  • Punj Lloyd Ltd(BEARISH)

    CIRP progressed to liquidation stage post-NCLT oral order (Feb 12-13, 2026), failure of resolution process with no recovery indicators

  • Videocon Industries Ltd(BEARISH)

    58th CoC meeting intimated (Feb 16, 2026), prolonged CIRP far beyond 180-day norm signals deepening distress vs peers at earlier stages

  • Value Industries Ltd(BEARISH)

    58th CoC meeting (Feb 16, 2026), outlier in extreme prolongation (vs avg ~15 meetings across filings), no progress disclosure

  • Jaiprakash Associates Ltd(BEARISH)

    Post-facto 26th CoC meeting, extended duration increases liquidation odds vs shorter-process peers like Radhagobind (4th)

  • JCT Ltd(BEARISH)

    Sequential CoC updates (9th outcome Feb 10, 10th scheduled Feb 16-17, 2026), active but stalled proceedings

  • AGS Transact Technologies Ltd(BEARISH)

    7th CoC meeting adjourned, ongoing delays heighten critical risk vs resolved peers

  • Baron Infotech Ltd(BEARISH)

    18th CoC outcome disclosed (ref Feb 9 letter), high meeting count indicates no resolution traction

  • Bondada Engineering Ltd(NEUTRAL)

    Dual SAST Reg 29(2) disclosures (Feb 13, 2026) on potential shareholding changes/encumbrance, neutral but monitor for promoter conviction

  • ICICI Bank Ltd(BULLISH)

    Routine ESOP/ESPS allotment under Reg 30, no dilution details but signals stable employee incentives vs distressed peers

  • Adani Enterprises Ltd(BULLISH)

    Reg 30 acquisition announcement, potential strategic expansion amid group strength

  • DLF Ltd(BULLISH)

    NCLT approval of subsidiary amalgamation scheme (Chandigarh Bench), positive restructuring vs pure insolvency filings

  • Bharti Airtel Ltd(BULLISH)

    First/final call on partly paid shares + earnings transcript, operational continuity in healthy large-cap

Risk Flags(10)

  • Radhagobind Commercial Ltd / CIRP[CRITICAL RISK]

    4th CoC meeting (Feb 14, 2026) indicates admission and early prolongation, no creditor/resolution details

  • Punj Lloyd Ltd / Liquidation[CRITICAL RISK]

    NCLT Principal Bench order shifts to asset breakup, low recovery for stakeholders

  • Videocon Industries Ltd / Prolonged CIRP[HIGH RISK]

    58th CoC (vs standard timeline) flags severe delays/uncertainty

  • Value Industries Ltd / Prolonged CIRP[CRITICAL RISK]

    58th CoC outlier, critical missing data on claims/financials

  • JCT Ltd / Ongoing CIRP[CRITICAL RISK]

    Back-to-back 9th/10th CoC meetings show procedural stalls, no outcomes

  • AGS Transact Technologies Ltd / CoC Adjournment[CRITICAL RISK]

    7th meeting delay elevates liquidation path

  • Jaiprakash Associates Ltd / Extended CIRP[HIGH RISK]

    26th CoC post-facto, no progress after multiple rounds

  • Section 7 application filed (email Feb 13, 2026), potential CIRP admission imminent

  • Simbhaoli Sugars Ltd / CIRP Update[CRITICAL RISK]

    IRP meeting on unaudited results (Feb 13, 2026) lacks metrics, signals distress continuity

  • Baron Infotech Ltd / CoC Outcome[HIGH RISK]

    18th meeting (ref Feb 9), undisclosed results heighten opacity

Opportunities(10)

Sector Themes(6)

  • Prolonged CIRP Across Filings(BEARISH IMPLICATIONS)

    9/14 insolvency cases with multi-CoC meetings (avg ~25th for high-count outliers like Videocon/Value 58th), delays beyond 180 days imply systemic creditor negotiation stalls + liquidation creep

  • Construction/Infra Distress Cluster[HIGH SECTOR RISK]

    Punj Lloyd (liquidation), Jaiprakash (26th CoC) highlight sector woes vs diversified peers, no recovery metrics

  • High Meeting Count Outliers(MONITOR FOR LIQUIDATION)

    4 companies >10 CoC (58th x2, 26th, 18th) vs early-stage (Radhagobind 4th), patterns signal chronic under-resolution

  • Opacity in Disclosures(UNCERTAINTY THEME)

    100% insolvency filings lack creditor claims/default amounts/financials, erodes assessment vs transparent large-caps

  • Neutral Large-Cap Resilience(BULLISH RELATIVE)

    7/21 filings from ICICI/Airtel/Adani/IndiGo/ONGC/TVS/DLF show routine ops, bifurcation from SME distress

  • SAST/Encumbrance Hints(EMERGING CONCERN)

    Bondada dual filings suggest promoter liquidity watch, early signal in engineering sector

Watch List(8)

Filing Analyses(21)
Radhagobind Commercial LimitedInsolvencybearishmateriality 10/10

13-02-2026

Radhagobind Commercial Limited (BSE: 539673) has issued a public announcement under the Corporate Insolvency Resolution Process (CIRP) with intimation of the 4th Committee of Creditors (COC) meeting scheduled for February 14, 2026. No financial metrics, creditor details, default amounts, or resolution plans are disclosed in the filing. The ongoing CIRP indicates the company is in advanced insolvency proceedings post-admission.

  • ·Event sourced from BSE
  • ·Sector: NOT_DISCLOSED
UnknownInsolvencybearishmateriality 10/10

13-02-2026

Punj Lloyd Ltd (532693) has filed an intimation on BSE regarding the Corporate Insolvency Resolution Process (CIRP) progressing to Liquidation stage, in furtherance of an earlier disclosure dated February 12, 2026, about an oral order pronounced by the Hon'ble National Company Law Tribunal, Principal Bench, New Delhi (NCLT). No financial metrics, creditor details, default amounts, or resolution plans are disclosed in the filing. This development signals failure of the resolution process with no positive operational or recovery indicators mentioned.

  • ·Event type: Corporate Insolvency Resolution Process (CIRP)-Liquidation
  • ·Earlier intimation date: February 12, 2026
  • ·NCLT: Principal Bench, New Delhi - pronounced oral order
ICICI Bank LimitedCompany Updateneutralmateriality 2/10

13-02-2026

ICICI Bank Limited announced the allotment of ESOP / ESPS under Regulation 30 (LODR) via a BSE filing on February 13, 2026. No quantitative details such as number of shares allotted, allotment price, total value, or dilution impact are disclosed. This is a routine compliance disclosure with no additional financial or operational metrics provided.

UnknownInsolvencybearishmateriality 7/10

13-02-2026

Videocon Industries Ltd (BSE: 511389) has issued a pre-facto intimation for the upcoming 58th meeting of the Committee of Creditors (CoC), scheduled for Monday, February 16, 2026, as part of its ongoing Corporate Insolvency Resolution Process (CIRP). No financial metrics, creditor details, resolution plans, or outcomes from prior meetings are disclosed in this filing. The high meeting count (58th) indicates a prolonged CIRP without specified progress updates.

UnknownInsolvencybearishmateriality 9/10

13-02-2026

Value Industries Ltd (BSE: 500945) is undergoing Corporate Insolvency Resolution Process (CIRP), with pre-facto intimation of the upcoming 58th meeting of the Committee of Creditors scheduled for Monday, February 16, 2026. The occurrence of the 58th CoC meeting indicates a prolonged CIRP stage, well beyond the standard 180-day timeline, but no details on resolution progress, creditor claims, or outcomes are disclosed. No financial metrics, creditor information, or positive developments such as bids are mentioned.

  • ·BSE Scrip Code: 500945
  • ·Filing Date: February 13, 2026
  • ·Event Type: Corporate Insolvency Resolution Process (CIRP) - CoC Meeting Intimation
  • ·Sector: NOT_DISCLOSED
Bondada Engineering LimitedInsider Trading / Sastneutralmateriality 3/10

13-02-2026

Bondada Engineering Limited (stock code: 543971) filed a disclosure under Regulation 29(2) of SEBI (SAST) Regulations, 2011 on February 13, 2026 via BSE. This regulation pertains to prior intimation of intention to acquire or dispose of shares that may cross substantial shareholding thresholds. No specific details on parties involved, transaction type, volume, value, shareholding changes, or any quantitative metrics are disclosed in the provided filing information.

  • ·Stock code: 543971
  • ·Source: BSE
  • ·Sector: NOT_DISCLOSED
Bondada Engineering LimitedInsider Trading / Sastneutralmateriality 3/10

13-02-2026

Bondada Engineering Limited (BSE: 543971) filed a disclosure under Regulation 29(2) of SEBI (SAST) Regulations, 2011 on February 13, 2026 via BSE. This pertains to promoter notifications on encumbrance of shares, but specific details such as who is trading, transaction type, volume, value, or direction (acquisition/disposal/pledge creation/reduction) are NOT_DISCLOSED. No quantitative data or shareholding changes are provided, limiting assessment of impact.

  • ·Stock code: 543971
  • ·Source: BSE
  • ·Event date: February 13, 2026
InterGlobe Aviation LimitedCompany Updateneutralmateriality 3/10

13-02-2026

InterGlobe Aviation Limited (BSE: 539448) made an announcement under Regulation 30 of SEBI (LODR) Regulations, 2015 on February 13, 2026 via BSE. No specific details on corporate actions, financial metrics, or any quantitative data are disclosed in the provided filing summary. No positive or negative metrics mentioned.

UnknownInsolvencybearishmateriality 9/10

13-02-2026

JCT Ltd (BSE: 500223) has intimated the convening of the 10th Meeting of the Committee of Creditors (CoC) as part of its ongoing Corporate Insolvency Resolution Process (CIRP), scheduled for February 16 and 17, 2026. This procedural update indicates continued progress in the insolvency proceedings with at least 10 CoC meetings held to date. No financial metrics, creditor details, resolution plans, or outcomes are disclosed in the filing.

AGS Transact Technologies LimitedInsolvencybearishmateriality 10/10

13-02-2026

AGS Transact Technologies Limited (BSE: 543451) intimated the adjournment of its 7th Committee of Creditors (CoC) meeting under the Corporate Insolvency Resolution Process (CIRP) via BSE on February 13, 2026. This disclosure confirms the company remains in the CIRP stage with ongoing creditor deliberations. No financial metrics, creditor details, claims, resolution plans, or timelines were mentioned.

  • ·CIRP stage: Ongoing CoC meetings (7th adjourned)
  • ·Event date of intimation: February 13, 2026
  • ·Sector: NOT_DISCLOSED
Jaiprakash Associates LimitedInsolvencybearishmateriality 8/10

13-02-2026

Jaiprakash Associates Limited has issued a post-facto intimation regarding the 26th Meeting of the Committee of Creditors (CoC) in its ongoing Corporate Insolvency Resolution Process (CIRP). No details on meeting outcomes, creditor claims, resolution plans, or timelines are disclosed. This update highlights the extended duration of the CIRP with no resolution achieved after 26 CoC meetings.

  • ·Post-facto intimation of 26th CoC meeting
  • ·Ongoing CIRP stage with no resolution or liquidation indicated
  • ·No creditor details, claims, or financial metrics disclosed
UnknownInsolvencyneutralmateriality 9/10

13-02-2026

JCT Ltd (BSE: 500223) has disclosed the outcome of its 9th Committee of Creditors (CoC) meeting held on February 10, 2026, as part of the ongoing Corporate Insolvency Resolution Process (CIRP). No specific details on the meeting outcomes, financial metrics, creditor claims, or resolution plans are provided in the intimation dated February 13, 2026. This update confirms active CIRP proceedings but lacks quantitative data on progress or impacts.

  • ·CIRP ongoing with at least 9 CoC meetings conducted by February 10, 2026
  • ·Intimation filed with BSE on February 13, 2026
UnknownInsolvencyneutralmateriality 4/10

13-02-2026

DLF Ltd (532868) made an announcement under Regulation 30 (LODR) intimating receipt from its wholly-owned material subsidiary, DLF Home Developers Limited (DHDL), regarding approval of Scheme of Amalgamation by the Hon'ble NCLT, Chandigarh Bench. No financial metrics, default amounts, creditor details, or scheme terms such as amalgamation parties, values, or timelines are disclosed. This is a corporate restructuring disclosure and contains no information on insolvency proceedings, creditor claims, or resolution plans.

  • ·Stock code: 532868
  • ·Source: BSE
  • ·Event date: February 13, 2026
  • ·No insolvency-related details such as CIRP, creditors, defaults, or resolution plans mentioned
  • ·Sector: NOT_DISCLOSED
Bharti Airtel LimitedCompany Updateneutralmateriality 4/10

13-02-2026

Bharti Airtel Limited issued a notice on February 13, 2026, for the payment of the first and final call on its partly paid-up equity shares. This corporate action requires holders of eligible partly paid-up shares to pay the remaining call money. No quantum, record date, payment timeline, or other financial details are disclosed.

Nova Iron & Steel Ltd.Insolvencybearishmateriality 10/10

13-02-2026

Nova Iron & Steel Ltd. (BSE: 513566) has disclosed under SEBI LODR Regulation 30 that an application has been filed against the company under Section 7 of the IBC, 2016, indicating initiation by a financial creditor. The company received an email notice dated February 13, 2026. No details on default amount, creditor identity, company financials, or further proceedings are provided in the filing.

Adani Enterprises LimitedCompany Updateneutralmateriality 5/10

13-02-2026

Adani Enterprises Limited (BSE: 512599) announced an acquisition under SEBI LODR Regulation 30 on February 13, 2026, via BSE filing. No details on deal structure, target entity, valuation, transaction type, or financial impact were disclosed. This remains purely informational with no quantitative metrics or strategic rationale provided.

Simbhaoli Sugars LimitedInsolvencybearishmateriality 10/10

13-02-2026

Simbhaoli Sugars Limited (BSE: 539742) has disclosed an update on its ongoing Corporate Insolvency Resolution Process (CIRP), specifically the outcome of the IRP Convened Meeting held on February 13, 2026, to review, consider, and take note of Unaudited Financial results. No specific details on the meeting outcome, financial metrics, creditor claims, or resolution prospects were provided in the filing. This reflects continued insolvency proceedings without disclosed positive developments or turnaround indicators.

  • ·Insolvency proceeding stage: CIRP ongoing with IRP Convened Meeting held on 2026-02-13
  • ·Trigger and financial position: NOT_DISCLOSED
  • ·Claims and creditors: NOT_DISCLOSED
  • ·Resolution prospects: NOT_DISCLOSED
  • ·Sector: NOT_DISCLOSED
  • ·BSE announcement reference: 539742
Bharti Airtel LimitedCompany Updateneutralmateriality 1/10

13-02-2026

Bharti Airtel Limited (532454) announced the Earnings Call Transcript under SEBI LODR Regulation 30 on BSE dated February 13, 2026. No financial metrics, leadership changes, board outcomes, quantitative data, or scheduled future events are explicitly stated in the provided filing metadata. Sector details are not specified.

Oil & Natural Gas Corporation LimitedCompany Updateneutralmateriality 1/10

13-02-2026

Oil and Natural Gas Corporation Limited (500312) announced the outcome of an Analyst/Investor Meet held on February 13, 2026, under Regulation 30 of SEBI (LODR) Regulations via BSE. No specific details on discussions, financial metrics, leadership changes, governance matters, or future events were disclosed in the filing. This is a routine compliance disclosure with no material information provided.

  • ·Stock code: 500312
  • ·Source: BSE
  • ·Sector: NOT_DISCLOSED
TVS Motor Company LimitedCompany Updateneutralmateriality 1/10

13-02-2026

TVS Motor Company Limited (BSE: 532343) issued a Press Release / Media Release under SEBI LODR Regulation 30 on February 13, 2026. No specific details on corporate actions, financial metrics, quantitative data, or events are disclosed in the provided announcement summary.

UnknownInsolvencybearishmateriality 9/10

13-02-2026

Baron Infotech Ltd (532336) has disclosed the outcome of the 18th meeting of its Committee of Creditors (CoC) under the Corporate Insolvency Resolution Process (CIRP), with reference to a prior letter dated February 9, 2026, informed to BSE Limited. No specific details on the meeting outcome, financial metrics, creditor claims, or resolution plans are provided in the filing. Sector information is not specified.

  • ·18th meeting of Committee of Creditors (CoC)
  • ·Reference to prior letter dated February 9, 2026

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