BGR Energy Systems Limited has submitted the order copy to the National Stock Exchange of India Limited and BSE Limited regarding the admission of the insolvency petition filed by National Asset Reconstruction Company Limited (NARCL). The submission was made on 23rd April 2026, referencing the earlier intimation dated 22nd April 2026.

NCLT Order Details

The Hon'ble National Company Law Tribunal (NCLT), Amaravati Bench delivered the order on 17th April 2026 in matter CP (IB)/58/7/AMR/2024 under Section 7 of the Insolvency and Bankruptcy Code, 2016. The tribunal admitted the petition for initiating the Corporate Insolvency Resolution Process (CIRP) against BGR Energy Systems Limited.

Financial Default and Claims

The total default amount considered by the tribunal stands at Rs.584,67,81,149 as on 31st August 2024. The debt comprises fund-based and non-fund based facilities across three projects: APGENCO, GHATAMPUR (NUPPL), and OPGCL.

Interim Resolution Professional Appointment

Mr. Dommeti Surya Rama Krishna Saibaba has been appointed as the Interim Resolution Professional (IRP) with registration number IBBI/IPA-003/IP-N000165/2018-2019/12106. The tribunal has declared a moratorium under Section 14 of the Insolvency and Bankruptcy Code, which prohibits the institution of suits, transfer of assets, foreclosure of security interests, and recovery of property during the CIRP period.

Background and Proceedings

The insolvency petition was initially filed by Canara Bank on 7th November 2024. Following a Joint Assignment Agreement dated 29th September 2025, NARCL was substituted as the financial creditor through Interlocutory Application IA(IBC)/366/2025, which was allowed by the NCLT on 1st April 2026. The petition was e-filed on 24th October 2024 and physically filed on 7th November 2024, within the limitation period. The company incurred continuous losses during financial years 2020-21 to 2022-23, and loan accounts were classified as NPA effective from 30th June 2022.

BGR Energy Systems Limited has filed its quarterly compliance certificate with stock exchanges for the quarter ended March 31, 2026, fulfilling mandatory regulatory requirements under SEBI regulations.

Regulatory Compliance Filing

The company submitted the certificate pursuant to Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 to both National Stock Exchange of India Limited and BSE Limited on April 7, 2026. The filing was signed by S. Sundar, Company Secretary and Compliance Officer of BGR Energy Systems.

Registrar Confirmation

MUFG Intime India Private Limited, formerly Link Intime India Private Limited, serves as the Registrar and Share Transfer Agent for BGR Energy Systems. The registrar issued the compliance certificate on April 4, 2026, confirming adherence to prescribed procedures for securities handling during the quarter.

The certificate confirms that any securities received from depository participants for dematerialization during the quarter were properly processed according to regulatory timelines. It also verifies that security certificates received were appropriately mutilated and cancelled after due verification by depository participants.

Quarter Activity Status

A significant aspect of this quarter's filing is the confirmation that no requests for dematerialization or rematerialization were received during the period ended March 31, 2026. This indicates minimal share transfer activity in physical form during the quarter.

The registrar confirmed that all prescribed procedures were followed for securities handling and that the company maintained proper records as per regulatory requirements. This filing demonstrates BGR Energy Systems' continued compliance with SEBI regulations governing depositories and participant operations.