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NCLT admits Auri Grow India into insolvency resolution process
As filed · Auri Grow India Limited has informed the Exchange about Corporate Insolvency Resolution Process
DistressDeterioratingMajormateriality 82 out of 100
What happened
FactThe NCLT Indore Bench admitted a Section 9 insolvency application against Auri Grow India on 18/09/2026, initiating the Corporate Insolvency Resolution Process. Rajesh Jasti was appointed Interim Resolution Professional, and the Board’s powers have been suspended and vested in the IRP. The company’s operations are to be managed by the IRP as a going concern.
Why it matters
CapitSignal interpretationOnce an insolvency process is admitted, control of the company passes from the board to a resolution professional and equity ranks last in any recovery.
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Fact- Admission or rejection of the application by the tribunal
- Appointment of a resolution professional
- Claims admitted against the company
Evidence
How CapitSignal classified this
- Reasoning:
- CIRP shifts control from the Board to the IRP and subjects the company to the insolvency-resolution framework. The filing does not disclose the underlying claim amount, creditor details, or a resolution timeline.
- Matched on:
- the filing's own subject line
- Confidence in the event type:
- 90%