Quadrant Televentures Limited has received a 90-day extension for its Corporate Insolvency Resolution Process (CIRP) from the National Company Law Tribunal (NCLT) Mumbai bench. The extension moves the deadline from March 2, 2026 to May 30, 2026, providing additional time for the ongoing insolvency proceedings.

NCLT Order Details

The NCLT Mumbai bench, comprising Hon'ble Member (Technical) Sanjiv Dutt and Hon'ble Member (Judicial) Sushil Mahadeorao Kochey, granted the extension following an application filed under Section 12(2) of the Insolvency and Bankruptcy Code, 2016. The order was passed during a hearing held on March 11, 2026.

Resolution Process Progress

Resolution Professional Rajesh Jhunjhunwala, who filed the extension application, reported significant progress in the CIRP proceedings. The tribunal noted that Form-G has been issued and 8 Preliminary Resolution Applicants (PRAs) have been received, demonstrating active participation in the resolution process.

This extension represents the first time the CIRP period has been extended beyond the initial 180-day period for Quadrant Televentures Limited. The company has been under CIRP since September 2, 2025, following an NCLT order.

Regulatory Compliance

Quadrant Televentures Limited disclosed the NCLT order to BSE Limited on March 16, 2026, in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure was made under the provisions related to material events and information that could impact the company's operations.

The company operates under the brand Connect Broadband and has its corporate office in Mohali, Punjab, with its registered office in Aurangabad, Maharashtra. The extension provides the Resolution Professional additional time to evaluate the received resolution plans and complete the CIRP process in accordance with the Insolvency and Bankruptcy Code requirements.

Quadrant Future Tek has entered the final stage of passenger field trials for its Kavach equipment supply to Indian Railways, marking a crucial advancement in securing the final RDSO clearance for Kavach 4.0. The company has been allocated a dedicated rail route and train by Indian Railways for conducting comprehensive field trials of its indigenously developed IR-ATP (Automatic Train Protection) system.

Final Phase Passenger Trials Commence

The company has now progressed to passenger field trials, representing the concluding phase of validation for its railway safety equipment. Indian Railways has provided dedicated infrastructure for comprehensive testing of the collision avoidance system. The IR-ATP system has successfully undergone multi-layered validation processes prior to reaching this critical passenger trial stage.

Strong Order Book Position

As of February 28, 2026, Quadrant Future Tek maintains a robust executable order book worth Rs. 8978.76 million (including GST). The order book comprises significant contracts from Indian Railways and RailTel Corporation for the deployment of Kavach technology across the railway network.

RDSO Clearance and Commercial Prospects

Upon successful completion of the passenger field trials, the ISA process is expected to conclude, followed by final certification from the Research Designs and Standards Organisation (RDSO). This certification represents the final regulatory milestone before broader commercial rollout of the Kavach 4.0 collision avoidance system across Indian Railways network.

Long-term Maintenance Revenue

Beyond equipment supply, Quadrant Future Tek will undertake comprehensive maintenance of onboard Kavach equipment from the fifth year through the fifteenth year. The maintenance contracts include 11 years of service at 3.00% of capital cost, with ICF quantifying maintenance revenue at Rs. 867.81 million (including GST) for the similar period.

The company's advancement to passenger field trials demonstrates significant progress in its sophisticated railway safety technology development, reinforcing its position as a key player in Indian Railways' digital transformation initiative.