Walchandnagar Industries Limited (WIL) has announced that a petition filed by financial creditors to initiate the Corporate Insolvency Resolution Process (CIRP) against its customer JUD Cements Limited has been admitted by the National Company Law Tribunal (NCLT) in Guwahati. The tribunal’s order, dated 12th October 2026, was communicated to WIL on 21st October 2026.
The transaction in question involves the manufacture and supply of a highly customised piece of large machinery for a cement plant intended for JUD Cements Limited, which remains undelivered. As the machinery is still in the safe custody of Walchandnagar Industries, the initiation of CIRP does not impose additional challenges on the physical state of the asset. However, the…