BGR Energy: NCLT admits CIRP petition for ₹584.67 Cr default

The National Company Law Tribunal (NCLT), Amaravati Bench, has admitted a Corporate Insolvency Resolution Process (CIRP) petition against BGR Energy Systems Limited on April 17, 2026. The petition was initially filed by Canara Bank under Section 7 of the IBC, 2016, and subsequently, National Asset Reconstruction Company Limited (NARCL) was substituted as the Financial Creditor. The default amount cited is ₹584,67,81,149/- as of August 31, 2024, leading to the initiation of the insolvency resolution process for the company.