Quadrant Televentures Limited has announced the replacement of its Resolution Professional following an order from the National Company Law Tribunal (NCLT) Mumbai. The company disclosed this development in compliance with Regulation 30 of SEBI Listing Regulations on January 23, 2026.

NCLT Confirms New Resolution Professional Appointment

The NCLT Mumbai bench has officially confirmed the appointment of Mr. Rajesh Jhunjhunwala (IBBI Registration No. IBBI/IPA-003/IP-N00457-C01/2017-2018/11102) as the new Resolution Professional for Quadrant Televentures Limited. He replaces Mr. Atul Kumar Kansal, who voluntarily resigned from the position.

Timeline of Corporate Insolvency Resolution Process

The Corporate Insolvency Resolution Process for Quadrant Televentures Limited began on September 2, 2025, when the NCLT initially appointed Mr. Atul Kumar Kansal as the Interim Resolution Professional. The Committee of Creditors subsequently confirmed his appointment as Resolution Professional during their second meeting held on November 12, 2025.

Committee of Creditors Approval Process

Mr. Atul Kumar Kansal tendered his resignation as Resolution Professional on December 5, 2025, requesting the Committee of Creditors to propose a replacement. In the fourth COC meeting held on December 29, 2025, members discussed and approved Mr. Rajesh Jhunjhunwala's appointment with overwhelming support of 81.44% of the COC members.

Transition of Responsibilities

The NCLT has directed the outgoing Resolution Professional to hand over possession and control of all assets and records of Quadrant Televentures Limited to the incoming Resolution Professional. Upon completion of this handover process, Mr. Atul Kumar Kansal will stand discharged from his duties. The tribunal noted that the outgoing Resolution Professional had no objection to the replacement and had voluntarily retired from the position.

Regulatory Compliance

Quadrant Televentures Limited made this disclosure under Regulation 30 read with Clause 16(f) of Para A of Part A of Schedule III of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The company operates under the Corporate Identification Number L00000MH1946PLC197474 and is currently under Corporate Insolvency Resolution Process as per the NCLT order dated September 2, 2025.

Quadrant Televentures Limited has appointed Rajesh Jhunjhunwala as its new Resolution Professional following the resignation of Atul Kumar Kansal during its ongoing Corporate Insolvency Resolution Process (CIRP). The Committee of Creditors (CoC) approved the appointment with 81.44% voting support during its fourth meeting held on December 29, 2025.

Fourth CoC Meeting and Leadership Change

The fourth Committee of Creditors meeting was convened on December 29, 2025, with e-voting extended for 24 hours at the request of CoC members. The voting concluded in accordance with Regulation 26 of the Insolvency and Bankruptcy Board of India (CIRP) Regulations, 2016.

Updated Form-G Publication and Timeline

Prior to the leadership change, the company had published an updated Form-G invitation for Expression of Interest (EOI) on December 31, 2025, with extended deadlines for prospective resolution applicants. The publication appeared across multiple newspapers including Financial Express, Jansatta, Navshakti, and Loksatta.

Previous CoC Approvals

The third CoC meeting held on December 23, 2025, had approved key resolutions with 76.70% voting support, including discussions on EOIs received, extension requests, CIRP cost ratification, and going concern expenses approval.

Company Profile Under CIRP

Quadrant Televentures Limited operates telecommunication and broadband services primarily in Punjab and adjoining areas. The company entered CIRP following an NCLT order dated September 2, 2025, and reported revenue of ₹273.97 crores with 1,197 employees (965 on roll plus 232 outsourced). Its equity shares remain listed on BSE with scrip code 511116, maintaining its registered office in Aurangabad, Maharashtra, and corporate office in Mohali, Punjab.