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Home/ Cases/ Steel & Metals/ Novatech Projects (I) Private Limited
● Under CIRP

Novatech Projects (I) Private Limited

Corporate insolvency resolution — proceedings ongoing · source: IBBI public notice inviting Expression of Interest (EoI)

Business: bought ferrous and non-ferrous materials from the petitioner against purchase orders; registered office at Wagle Industrial Estate, Thane (West), Maharashtra.

Sector Steel & Metals Bench NCLT Mumbai Last process activity 15 months ago · claims re-verified

Claims — past the ninety-day period. The ninety days from admission that regulation 12 allows ended 20 months ago. A claim filed now must state its reasons for the delay, and it is for the resolution professional to accept or reject it. How claims are filed →

Case record

at a glance

Admitted by the Mumbai bench on a petition by an operational creditor. Current status: Under CIRP.

In the insolvency process for
1 yr 11 mo
This case
NCLT Mumbai median · 1 yr 6 mo
All India median · 1 yr 3 mo
Medians: time from admission to a plan or a liquidation order, over closed cases (n = 1,244 / 4,609). Pre-packs left out.
The company
Private limited company in Steel & Metals, registered in Maharashtra
Admitted claims
₹100–500 Cr
Where the process stands
Admitted→Public announcement→Claims collected→Expression of Interest invited→Resolution plan or liquidation
How cases like this ended
Steel & Metals · 274 closed
Resolved 62% · Liquidation 31% · Withdrawn or closed 7%
NCLT Mumbai · 1,753 closed
Resolved 25% · Liquidation 48% · Withdrawn or closed 27%
Resolved cases in this sector: creditors' typical haircut 82.0% n=165
Liquidations in this sector: typical recovery 3.8% of claims n=65
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Admitted claims & creditor classesCommittee of creditorsFinancialsCompany & MCA recordTimeline & key dates · 1 tribunal orderProfessionalsIntelligence note
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