The National Company Law Tribunal (NCLT), Cuttack Bench, has admitted Bhilai Jaypee Cement Limited for corporate insolvency after it defaulted on an operational debt of over Rs 45 crore owed to a coal supplier.
The order was passed on October 15, 2025, by a bench comprising Member (Judicial) Deep Chandra Joshi and Member (Technical) Banwari Lal Meena, allowing a petition filed by Siddhgiri Holdings Private Limited under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016.
The dispute arose from three purchase orders placed by Bhilai Jaypee Cement in late 2021 and early 2022 for the supply of 6,000 metric tonnes of coal. Siddhgiri Holdings supplied the coal and raised multiple invoices between September 2021 and…