Legal29 Oct 2026, 05:22 pm
Vardhman Polytex Faces IBC Application for ₹40.7 Cr Claim
AI Summary
Vardhman Polytex Ltd has been notified of an application filed by an operational creditor, M/s Bhagwati Cotton Company, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The application, submitted to the National Company Law Tribunal (NCLT) in Chandigarh, pertains to a claim amount of ₹40.70 Crore, comprising ₹28.08 Crore as principal and ₹12.62 Crore as interest. This filing could have significant implications for the company's financial standing and operations.
Key Highlights
- IBC application filed by operational creditor.
- Claim amount totals ₹40.70 Crore (₹28.08 Cr principal, ₹12.62 Cr interest).
- Application filed before NCLT Chandigarh.
- Potential impact on company's financial health.
Price Impact
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