Quasar India Faces Insolvency Proceedings by Operational Creditor
An operational creditor, Bikit Private Limited, has filed for Corporate Insolvency Resolution Process (CIRP) against Quasar India Limited under Section 9 of the Insolvency and Bankruptcy Code, 2016. The application was filed with the National Company Law Tribunal, New Delhi Bench. Quasar India Limited, trading on BSE with code 538452, has informed BSE Limited about this development as per regulatory requirements.
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Quasar India Limited has disclosed to BSE Limited that an operational creditor has initiated Corporate Insolvency Resolution Process (CIRP) proceedings against the company under the Insolvency and Bankruptcy Code, 2016. This development marks a significant corporate action that could impact the company's operations and stakeholder interests.
Application Details
The insolvency application was filed by Bikit Private Limited, acting as an operational creditor, against Quasar India Limited. The proceedings were initiated under Section 9 of the Insolvency and Bankruptcy Code, 2016, which specifically deals with applications by operational creditors for initiating CIRP against corporate debtors.
| Parameter | Details |
|---|---|
| Applicant | Bikit Private Limited (Operational Creditor) |
| Corporate Debtor | Quasar India Limited |
| Legal Provision | Section 9, Insolvency and Bankruptcy Code, 2016 |
| Filing Date | December 10, 2025 |
| Tribunal | National Company Law Tribunal, New Delhi Bench |
Regulatory Compliance
Quasar India Limited communicated this information to BSE Limited, fulfilling its obligation to keep the stock exchange informed about material developments.
Company Information
Quasar India Limited operates with CIN L67190DL1979PLC009555 and maintains its registered office at 1971-72, Room No. 3, Ground Floor, Kucha Chelan, Khari Baoli, Chandni Chowk, North Delhi, Delhi, India-110006. The company trades on BSE with the security code 538452 under the symbol QUASAR.
Potential Implications
The CIRP application represents a formal legal proceeding that could lead to resolution of the company's financial difficulties or, in certain circumstances, liquidation if resolution efforts prove unsuccessful. The National Company Law Tribunal will examine the application and determine the appropriate course of action based on the merits of the case and applicable legal provisions.
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