Unitech International Limited , a company currently undergoing insolvency proceedings, has seen a significant change in its resolution process. The National Company Law Tribunal (NCLT) Mumbai Bench-III has appointed Mr. Nitin Narang as the new Resolution Professional, replacing the previous Interim Resolution Professional.

Key Developments

• New Appointment: Mr. Nitin Narang has been appointed as the Resolution Professional for Unitech International Limited.
• Legal Basis: The appointment was made under Section 22(3)(b) of the Insolvency and Bankruptcy Code.
• Case Details: The insolvency case was initially filed by 4g Plastics Inc. against Unitech International Limited under Section 9 of the Insolvency and Bankruptcy Code.
• Decision Making: The change was based on the recommendation of the Committee of Creditors (CoC).

Official Confirmation

The company has disclosed this information to the BSE Limited, adhering to Regulation 30 of the SEBI (Listing Obligation & Disclosure Requirements) Regulation, 2015. The disclosure, dated November 20, 2025, provides the following details about the new Resolution Professional:

NCLT Order

The NCLT order, dated November 11, 2025, confirms the appointment of Mr. Nitin Narang as the Resolution Professional. The order was passed by the bench comprising Shri Anil Raj Chellan (Member Technical) and Shri Ashish Kalia (Member Judicial).

This change in the Resolution Professional marks a significant step in the ongoing Corporate Insolvency Resolution Process of Unitech International Limited. Stakeholders and investors should closely monitor further developments in this case as it progresses through the insolvency process.

Unitech International Limited , a company currently undergoing Corporate Insolvency Resolution Process (CIRP), has reported significant challenges in meeting its regulatory obligations. The company's inability to file quarterly results stems from complications arising from its ongoing insolvency proceedings.

Insolvency Proceedings and Management Changes

The National Company Law Tribunal (NCLT), Mumbai Bench-II, issued an order on June 26, initiating the CIRP for Unitech International Limited. As a result, Mr. Mayur Rajendrakumar Popat has been appointed as the Interim Resolution Professional (IRP) and is now overseeing the company's operations.

Compliance Challenges

The company is facing difficulties in complying with quarterly filings required under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This non-compliance is attributed to the non-availability of crucial information from the Registrar and Transfer Agent (RTA).

Root Cause of Information Unavailability

The RTA has reported an inability to provide necessary data due to non-payment of fees to depositories NSDL and CDSL. This financial constraint has created a domino effect, impacting the company's ability to meet its regulatory obligations.

Efforts to Resolve the Situation

On September 8, Mr. Popat, in his capacity as the Resolution Professional, sent an intimation mail to relevant parties. This communication aimed to:

1. Invite submission of claims
2. Request provision of requisite documents for completing quarterly filings

Appeal to BSE India

Given the extraordinary circumstances surrounding the insolvency process, the Resolution Professional has appealed to BSE India. The request is for the stock exchange to consider potential delays in compliance, taking into account the ongoing CIRP and the associated challenges.

Implications for Investors and Stakeholders

This situation highlights the complexities that can arise during insolvency proceedings, particularly in terms of maintaining regulatory compliance. Investors and stakeholders of Unitech International Limited should be aware of these developments and the potential impact on the company's reporting and transparency in the near term.

The company's ability to resolve these issues and meet its regulatory obligations will likely depend on the progress of the insolvency resolution process and the decisions made by the appointed Resolution Professional.

Unitech International Limited continues to navigate through this challenging period under the guidance of the CIRP framework.