India MCA Insolvency Liquidation Filings — March 18, 2026

Unanimous 100% COC approval (21st meeting March 11, 2026) for RP authorization to seek 120-day CIRP extension and litigation exclusion, ratifying ₹83.40 Lakh CIRP costs, signaling procedural continuity despite delays

Resolution Applicants granted extension to submit revised plans by March 16, 2026 (subject to NCLT), indicating active bidding interest post-litigation pause

Seventh COC meeting scheduled March 20, 2026 (CIRP since Sept 2, 2025), 6+ months in process under Section 7 IBC, no prior resolutions detailed but ongoing engagement

99.99% approval (11,150,1961 valid votes) for Composite Scheme on March 18, 2026, with promoters 100% in favor and public 99.99% (only 3 dissenters with 100 shares), minimal opposition

NCLT Mumbai order Jan 29, 2026 directed meeting, scheme involves Anchemco amalgamation into Asia Investments and Automotive Undertaking demerger, unanimous quorum met (68/146,561 shareholders)

RP credentials strong (IBBI valid to June 30, 2027), CS resignation Nov 19, 2024 (historical), no recent insider pledges/trades disclosed, but cost ratification shows controlled expenses

BSE disclosure under Reg 30 SEBI LODR, scrip 511116, no financial outcomes from prior 6 COC meetings, implying stagnant progress vs typical 180-330 day CIRP timelines

Remote e-voting March 15-17, 2026 (cut-off March 11), scrutinizer report confirms outcome integrity, voting results for separate disclosure imminent

Exclusion of NCLAT Jan 13, 2026 litigation period from CIRP timeline resets clock, potential for faster resolution vs peers with uncontested timelines

No forward guidance or capital allocation changes (dividends/buybacks) in filing, CIRP constraints limit shareholder returns

Scheme approval vs neutral sentiment in meeting filing (4), positive shift (3/4 materiality 9/10 vs 8/10), relative outperformance in restructuring execution

Bloom's 21st COC unanimity outperforms Quadrant's 7th (no outcomes), higher meeting frequency signals advanced stage

Seeking 120-day extension (21st COC), adds to existing timeline post-NCLAT Jan 13, 2026 litigation, risks 330+ day total vs IBC 180-330 norms

₹83.40 Lakh ratified for going concern ops, recurring CIRP expenses without revenue trends disclosed erode creditor recoveries

7th COC after 6 months (admitted Sept 2, 2025), no resolutions/financials from priors, potential for resolution failure/liquidation

CS Tushar Donda resigned Nov 19, 2024, historical gap in compliance team amid CIRP, no recent insider holdings/pledges to gauge conviction

No period comparisons, operational metrics, or forward guidance, opacity heightens uncertainty in telecom restructuring

Voting results for NCLT-convened meeting (March 18, 2026) to be disclosed separately, pending stock exchange/BSE filings could delay scheme implementation

Negative sentiment (9/10 materiality) vs Gabriel's positive, Bloom's extension contrasts Gabriel's approval finality

Unlike Bloom's 100% unanimity or Gabriel's 99.99%, no voting/consensus data, risks creditor disputes

99.99% approval for amalgamation-demerger, potential value creation via streamlined auto undertaking, trade ahead of NCLT sanction

Revised plans due March 16, 2026 (extended), active applicants post-litigation exclusion offer distressed asset acquisition play

Promoters 100%, public 99.99% favor, low dissent (100 shares), signals clean execution vs typical scheme oppositions

7th meeting March 20, 2026, monitor for plan approvals/resolution outcomes in telecom turnaround

NCLAT litigation exclusion restarts CIRP clock, shorter effective period vs peers enables faster NCLT resolution vote

Positive sentiment outlier (vs 2 negative CIRPs), scheme post-NCLT Jan 29, 2026 order positions for post-restructuring re-rating

₹83.40 Lakh ratified (reasonable for going concern), preserves asset value for potential higher recovery multiples

BSE-listed 511116, CIRP admission Sept 2025 offers speculative upside if COC March 20 yields plan shortlist

1/4 filings (Bloom Dekor) seeks 120-day add-on (21st COC), 7th COC in Quadrant after 6 months; 50% filings signal delays vs IBC 330-day cap, implies creditor fatigue and liquidation risks across insolvents

Bloom 100% COC, Gabriel 99.99% shareholders (promoters 100%); 2/4 filings show alignment where voting occurred, contrasts typical IBC disputes, favors schemes over pure CIRPs

All 4 filings 8-9/10 materiality, 75% at 9/10; procedural milestones (COC 21st/7th, scheme votes) dominate March 2026, heightened volatility for restructuring names

2/3 insolvency filings negative (Bloom, Quadrant), vs Gabriel positive/neutral; no financial ratios/margins disclosed, but process drags erode value without resolution catalysts

3/4 reference NCLT/NCLAT (orders Jan 2026, approvals pending), March 18-20 cluster for meetings/votes; accelerates resolutions in auto/telecom/wood sectors

Zero period-over-period (YoY/QoQ), insider trades, capital allocation across filings; procedural focus limits alpha, watch for financials in next COC outcomes

Monitor outcomes/resolutions from March 20, 2026 meeting for plan shortlisting or further delays, potential liquidation trigger [March 20, 2026]

Track NCLT decision on 120-day CIRP extension and revised RA plans (submitted March 16, 2026), litigation exclusion impact [Post-March 16, 2026]

Separate BSE filing imminent for full e-voting breakdown (meeting March 18, 2026), confirms scrutinizer report [Within days of March 18, 2026]

Post-approval NCLT Mumbai sanction for composite scheme (order basis Jan 29, 2026), implementation timeline [Q2 2026 expected]

Watch RP (IBBI valid to June 2027) for CIRP cost updates post-₹83.40 Lakh ratification, insider pledges if any [Ongoing]

Compare 7th COC vs prior 6 (no details), flag if no financial/plan disclosures, vs Bloom's advanced stage [March 20, 2026]

68/146,561 present (quorum met), monitor post-scheme ownership changes or related party transactions [Post-scheme]