DPSC LimitedDPSCLTDNSE
Corporate Insolvency Resolution Process
DistressDeterioratingCriticalmateriality 95 out of 100
What happened
FactCorporate Insolvency Resolution Process. against IPCL by a financial creditor, State Bank of India, for initiation of the Corporate Insolvency Resolution. Process (CIRP) under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016, vide an Order dated 15.
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.
Watch next
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:
- INSOLVENCY base 93; +2 corroborating keywords; explicit insolvency/default evidence present; matched on subject
- Matched on:
- the filing's own subject line
- Confidence in the event type:
- 90%