The National Company Law Tribunal (NCLT), Principal Bench, New Delhi, has admitted an insolvency petition filed by Indian Overseas Bank against Mhow Ghatabill Toll Roads Pvt. Ltd. under Section 7 of the Insolvency and Bankruptcy Code, 2016.
The tribunal noted that the corporate debtor defaulted on repayment obligations, with dues amounting to ₹117.74 crore (inclusive of interest and penal charges) as of 20 November 2025, and despite service of notice, no representative appeared on its behalf.
The corporate debtor, Mhow Ghatabill Toll Roads Pvt. Ltd engaged in developing a four-lane toll road from Mhow to Ghatabillod in Madhya Pradesh, had availed a term loan of ₹217 crore from IL&FS Financial Services in…