Legal21 May 2026, 03:42 pm
Kesar Enterprises Faces Insolvency Petition; Claim of ₹6970.54 Lakhs
AI Summary
Kesar Enterprises Ltd. is facing an insolvency petition filed by Sugar Development Fund through IFCI Limited under Section 7 of the Insolvency and Bankruptcy Code, 2016. The petition, alleging a claim of ₹6970.54 lakhs, is currently under review by the National Company Law Tribunal (NCLT), Mumbai Bench. The NCLT has directed the company to file a reply, with the next hearing scheduled for June 5, 2026. Kesar Enterprises is in discussions with the applicant for an amicable resolution and will keep the exchange updated on further developments.
Key Highlights
- Sugar Development Fund filed insolvency petition against Kesar Enterprises.
- Claim amount alleged in the petition is ₹6970.54 lakhs.
- NCLT directs Kesar Enterprises to file a reply to the petition.
- Next hearing is scheduled for June 5, 2026.
- Kesar Enterprises is in discussion for amicable resolution.
Price Impact
More from KESARENT