Jalan Transolutions (India) Limited — Others, 29-07-2025: Corporate Insolvency Resolution Process

Jalan Transolutions (India) Limited updated shareholders on its Corporate Insolvency Resolution Process (CIRP). The National Company Law Tribunal heard a withdrawal application related to the CIRP. During the hearing, the Interim Resolution Professional reported that the Committee of Creditors is yet to be formed. A claim from Union Bank of India amounting to 47.87 Crore was received, with 37.66 Crore provisionally admitted. Another claim from Apollo Supply Chain Pvt. Ltd. is currently under dispute. The NCLT has reserved its decision on the matter, indicating further proceedings are pending.