Bil Vyapar Limited, formerly known as Binani Industries Limited, has entered into a corporate insolvency resolution process as ordered by the National Company Law Tribunal (NCLT). This development initiates a structured process to address the company's financial difficulties.

Key Details of the Insolvency Process

The NCLT's order initiates a comprehensive review of BIL Vyapar Limited's financial position and explores potential resolutions to address its insolvency. During this period, the company's operations will be overseen by the appointed Interim Resolution Professional, CA Subodh Kumar Agrawal.

Implications for Creditors

Creditors of BIL Vyapar Limited are required to submit their claims, along with supporting proof, by December 5, 2025. This step is crucial for creditors to ensure their interests are represented in the resolution process.

Looking Ahead

The insolvency resolution process is expected to conclude by May 11, 2026. During this time, stakeholders will work towards finding a viable solution for the company's financial challenges. The outcome of this process could significantly impact the future of BIL Vyapar Limited and its stakeholders.

This development underscores the importance of robust financial management and the potential consequences of financial distress for corporations. It also highlights the role of regulatory bodies in providing structured processes for addressing corporate insolvency.

Investors and creditors of BIL Vyapar Limited should stay informed about the progress of the insolvency resolution process and any potential impact on their interests.

Bil Vyapar Limited (formerly Binani Industries Limited) has reported concerning financial results for the half-year ended September 30, 2025, raising questions about the company's future operations. The company's board of directors approved the unaudited financial results in a meeting held on November 12, 2025.

Financial Performance

The company's financial situation has deteriorated significantly compared to the previous year:

Liquidation Basis Accounting

In a significant development, BIL Vyapar's financial results have been prepared on a liquidation basis rather than a going concern assumption. This change in accounting approach is due to:

1. The absence of a concrete business plan
2. The operational support commitment from the promoter, Triton Trading Company Private Limited

Legal Proceedings

The company is facing ongoing legal challenges:

• Punjab National Bank has initiated proceedings at the National Company Law Tribunal (NCLT) Kolkata
• The case concerns the recovery of outstanding dues
• A hearing took place on September 15, 2025, with the matter currently reserved for order

Financial Provisions

BIL Vyapar has made provisions for potential financial obligations:

• Rs 2,149.00 lakh set aside for loss allowances
• These allowances relate to corporate guarantees and letters of comfort given to former subsidiaries

The company's financial health remains precarious, with total liabilities significantly exceeding its assets. The shift to liquidation basis accounting signals serious concerns about BIL Vyapar's ability to continue as a going concern, despite the operational support commitment from its promoter.

Investors and stakeholders should closely monitor further developments, particularly the outcome of the NCLT proceedings and any potential restructuring plans that may be announced in the future.