
Legal15 Aug 2026, 04:00 pm
Eureka Industries Ltd admitted to Pre-Packaged Insolvency Resolution Process
AI Summary
Eureka Industries Ltd has been admitted to the Pre-Packaged Insolvency Resolution Process (PPIRP) by the National Company Law Tribunal (NCLT), Ahmedabad. The order, dated 14th August 2026, commenced the PPIRP with immediate effect. The management of the company's affairs will continue to vest with the existing Board of Directors, subject to the provisions of the Insolvency and Bankruptcy Code, 2016. The consequences under Chapter III-A of Part II of the Code, including Section 54E read with Section 14, will take effect from the PPIRP Commencement Date. Mr. Bimal Ashok Desai has been appointed as the Resolution Professional.
Key Highlights
- NCLT admits Eureka Industries Ltd into PPIRP.
- PPIRP commences effective 14th August 2026.
- Existing Board of Directors retains management control.
- Mr. Bimal Ashok Desai appointed as Resolution Professional.
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