Quasar India enters insolvency process; creditors must file claims by 14 November
According to a public announcement on the IBBI website, the NCLT's New Delhi bench admitted Quasar India Limited into insolvency on 31 October 2026. Creditors must file claims by 14 November 2026.
Key points
- The NCLT's New Delhi bench ordered a corporate insolvency resolution process for Quasar India Limited on 31 October 2026, the announcement says.
- Creditors must submit their claims with proof to the interim resolution professional on or before 14 November 2026.
- The process is estimated to close by 29 April 2027; admission into insolvency is not a finding of fraud or mismanagement.
Photo: Crew crew / Wikimedia Commons, CC0 1.0 (cropped). Representational image.
Quasar India Limited, a company registered in New Delhi, has entered the corporate insolvency resolution process, according to a public announcement published on the website of the Insolvency and Bankruptcy Board of India (IBBI). The National Company Law Tribunal (NCLT), New Delhi Bench, Court-V, ordered the process to begin on 31 October 2026. Creditors of the company must submit their claims by 14 November 2026.
What Happened
The announcement, made in the standard Form A under the IBBI's insolvency regulations, says the tribunal ordered the commencement of the corporate insolvency resolution process on 31 October 2026, and that the order was uploaded on the NCLT website on 3 November 2026. The corporate insolvency resolution process is the procedure under the Insolvency and Bankruptcy Code in which a company's creditors try to agree a plan to revive it or recover their dues.
The company's registered office is in Laxmi Nagar, New Delhi, and it is registered with the Registrar of Companies, Delhi, the announcement says. It estimates that the insolvency process will close on 29 April 2027.
An interim resolution professional has been appointed to run the process and collect claims. The announcement says no separate classes of creditors have been identified for this process.
What It Means
Anyone the company owes money to, such as lenders, suppliers, employees or other creditors, must submit their claim with proof to the interim resolution professional on or before 14 November 2026, at the address given in the announcement. Financial creditors, such as banks and other lenders, must file their claims by electronic means only. All other creditors may submit claims in person, by post or by electronic means.
The announcement warns that submitting false or misleading proofs of claim will attract penalties. Creditors can find the full announcement, with the interim resolution professional's contact details, on the IBBI website.
Admission into the insolvency process is not a finding of fraud or mismanagement by the company. It starts a time-bound process to resolve its debts, and the tribunal's order may be appealed to the National Company Law Appellate Tribunal.
Source: IBBI public announcement
Sources & Citations
- IBBI public announcement — Insolvency and Bankruptcy Board of India