Gangotri Textiles Ltd has been admitted into Corporate Insolvency Resolution Process (CIRP) by the NCLT, Chennai. The Board of Directors is suspended, and an Interim Resolution Professional (IRP) now manages the company. This marks a significant governance shift for shareholders.
Gangotri Textiles Ltd’s board of directors has been suspended and the company admitted into the Corporate Insolvency Resolution Process (CIRP) by the Hon’ble National Company Law Tribunal (NCLT), Chennai Bench, via an order dated 7 August 2026.
What just happened
The NCLT’s decision effectively suspends the powers of Gangotri Textiles’ Board of Directors. Management and company affairs are now vested with the appointed Interim Resolution Professional (IRP), CA G….