India NCLT Insolvency Resolution Filings — October 01, 2026

01-10-2026

Majestic Research Services and Solutions Ltd, under an approved Resolution Plan (NCLT order dated June 20, 2025), has cancelled all existing equity shares held by promoters (51,36,992 shares) and public shareholders (48,89,008 shares) without consideration, and will allot 20,650 fresh shares to public shareholders and 3,92,350 fresh shares on a preferential basis to five allottees. This restructuring effectively wipes out existing shareholders and transfers control to new investors, reflecting a significant corporate action following insolvency proceedings.

• · Record Date for public shareholders: July 8, 2026
• · NCLT Bengaluru Bench order approving Resolution Plan: June 20, 2025
• · Preferential allotment price: ₹10 per share
• · Fractional shares entitlement ignored for public shareholders
• · Board meeting held on October 1, 2026, from 4:00 PM to 5:00 PM IST

01-10-2026

Harig Crankshafts Ltd held its 3rd Annual General Meeting (Post CIRP) on September 29, 2026, with 90.13% of total shares voted. All four ordinary resolutions were passed, including adoption of FY2026 financials, re-appointment of director Manoj Agarwal, re-appointment of statutory auditors M/S M.B. Gupta & Co., and approval of material related party transactions with Chemester Food Industry Private Limited. However, public non-institutional shareholders showed significant dissent on resolutions 3 and 4, with 42.49% and 42.52% voting against, respectively.

• · Promoter and promoter group did not vote on Resolution 4 (related party transactions), resulting in only 0.13% of total shares being polled on that resolution.
• · No invalid votes were recorded for any resolution.
• · The meeting lasted 1 hour 5 minutes (12:00 PM to 1:05 PM).
• · Record date for voting was September 22, 2026.

01-10-2026

Siti Networks Limited disclosed a default on term loan instalments as of August 31, 2026, with the default continuing beyond 30 days. The company is already under Corporate Insolvency Resolution Process (CIRP) initiated by NCLT on February 22, 2023, with total outstanding claims from lenders of ₹1,500 Crore as of February 2023, up from ₹1,206.03 Crore as of August 2023. The CIRP has been marked by legal appeals and stays, including a current Supreme Court stay preventing financial creditors from remitting amounts received during the stay period, while the Resolution Professional has been replaced from Mr. Rohit Mehra to Mr. Trupal J. Patel following regulatory cancellation of the former's registration.

• · The default date is August 31, 2026, and continues beyond 30 days.
• · The CIRP was initiated on February 22, 2023, under Section 7 of the IBC.
• · The Resolution Professional was changed from Mr. Rohit Mehra to Mr. Trupal J. Patel after IBBI cancelled Mr. Mehra's registration effective September 6, 2026.
• · The Hon'ble NCLT on October 1, 2024, fixed the insolvency commencement date at February 22, 2023, and ruled that the moratorium under Section 14 was applicable during the stay period.
• · The Hon'ble NCLAT on July 31, 2025, dismissed all appeals against the October 1, 2024 order and directed financial creditors to remit amounts back to the corporate debtor with accrued interest.
• · Certain financial creditors have appealed to the Hon'ble Supreme Court, which has granted a stay on remittance and directed that no payments be made to operational creditors for liabilities during the stay period.
• · VAPL's claim (₹148 Cr) originates from a related party (Zee Entertainment Enterprise Limited) assignment, and NCLT on August 27, 2026, allowed VAPL's application to be included in the CoC with voting rights.

01-10-2026

Rathi Graphic Technologies Ltd held its 2nd Annual General Meeting post-completion of the Corporate Insolvency Resolution Process on September 30, 2026, via video conferencing. The meeting covered the adoption of audited financial statements for FY ended March 31, 2026, and the re-appointment of a director. The statutory and secretarial audit reports contained no qualifications or adverse remarks, indicating a clean financial position post-insolvency resolution.

• · The AGM was originally scheduled for 3:30 PM IST but commenced at 3:56 PM IST.
• · The cut-off date for determining member eligibility to vote was September 23, 2026.
• · Remote e-voting was open from September 27 to September 29, 2026.
• · Management and control of the company was transferred to the reconstituted Board effective February 7, 2025.
• · No queries were received from members during the meeting.

01-10-2026

BGR Energy Systems provided an update on insolvency proceedings before the NCLAT Chennai. The suspended director has reportedly settled the debt dispute with financial creditor NARCL, but the NCLAT has adjourned the appeal to November 16, 2026, with interim relief continuing. Meanwhile, an operational creditor has intervened, claiming the company owes it approximately ₹4.73 crore for non-payment, though the tribunal noted the intervenor's rights are not in peril regardless of the appeal's outcome.

• · The NCLAT has directed both sides to submit notes of submission by October 9, 2026.
• · Next hearing scheduled for November 16, 2026 at 12 PM.
• · An operational creditor's Section 9 petition was dismissed earlier due to the CIRP initiation; the creditor sought final orders from the Adjudicating Authority, which were delayed due to this appeal.
• · A stay from the Andhra Pradesh High Court was in force for about 20 months and vacated on June 24, 2026.

01-10-2026

Transindia Real Estate Limited has published newspaper advertisements for a notice of petition regarding the scheme of amalgamation of its wholly owned subsidiary, Madanahatti Logistics and Industrial Parks Private Limited, into itself. The NCLT admitted the joint petition on September 4, 2026, and the hearing is scheduled for November 3, 2026. This is a procedural step in the merger process and does not involve any financial figures or performance metrics.

• · The joint petition was admitted by the NCLT on September 4, 2026.
• · Hearing is fixed for November 3, 2026.
• · Advertisements were published in Business Standard (English) and Loksatta (Marathi) on October 1, 2026.
• · The amalgamation involves a wholly owned subsidiary (Transferor Company) merging into the holding company (Transferee Company).