The Mumbai NCLT bench has initiated the Corporate Insolvency Resolution Process against Sevantilal Fakirchand and Company following its Section 10 application | Representative Image
Mumbai, October 30, 2026: The Mumbai bench of the National Company Law Tribunal (NCLT) has admitted an insolvency petition filed by Sevantilal Fakirchand and Company Pvt Ltd, initiating the Corporate Insolvency Resolution Process (CIRP) against the company over a total default of ₹1,376 crore.
In its October 27 order, the NCLT held that the company’s application under Section 10 of the Insolvency and Bankruptcy Code (IBC) was complete and that the default exceeded the prescribed threshold.
The…