Synopsis: Dharan Infra-EPC Limited has taken a key step toward coming out of insolvency after settling all its dues with its main lender. The company’s suspended board has responded to have fully repaid Tata Capital Housing Finance, leading to further developments.
The shares of this micro cap company majorly engaged in the business of real estate construction, development, civil contracts and other EPC related activities, jumped upto 5 percent after settling all its dues and possible exit of insolvency.
With the market capitalization of Rs. 136 Crores, the shares of Dharan Infra-EPC Ltd were trading at around Rs. 0.25 per share, raising nearly 5 percent from its previous day close of Rs. 0.24 per share.
What is the NEWS:
Dharan Infra-EPC Limited, which was earlier known as KBC Global Limited and Karda Construction Limited, has provided an important update on its ongoing Corporate Insolvency Resolution Process (CIRP). After the insolvency process was initiated, the company’s suspended Board of Directors challenged the proceedings by filing an appeal before the National Company Law Appellate Tribunal (NCLAT), seeking a stay on the CIRP.
During the claim verification period under the insolvency framework, the company entered into a one-time settlement with its original financial creditor, Tata Capital Housing Finance Limited. As part of this settlement, Dharan Infra-EPC fully cleared all outstanding dues on 31 December 2025, effectively settling the lender’s claims.
Taking note of this development, the NCLAT, through its order dated 6 January 2026, directed the Interim Resolution Professional (IRP) to initiate the legal process for withdrawal of the CIRP. The tribunal instructed the IRP to approach the National Company Law Tribunal (NCLT), Mumbai Bench, by filing an application under Section 12A of the Insolvency and Bankruptcy Code, 2016, which allows withdrawal of insolvency proceedings with due process.
The NCLAT also directed the IRP to collate all claims received during the CIRP period and clarified that no further actions should be taken under the insolvency process until the withdrawal application is decided. Following these directions, the IRP has already started the process of filing the Section 12A application before the NCLT to formally withdraw the insolvency case.
Overall, this development marks a significant step towards the exit of Dharan Infra-EPC from insolvency proceedings, subject to approval by the NCLT, after settlement of all dues with the original financial creditor
About the Company and Financials
Dharan Infra-EPC Limited is majorly engaged in the business of real estate construction, development, civil contracts and other EPC related activities. It operates across two main verticals: construction and development of residential and commercial projects, and contractual project execution.
Post March 2024, the group handed over possession of approximately 109 units, including 76 units from the Hari Kunj Mayflower project, a residential-cum-commercial development located at Karmayogi Nagar, Nashik. Additionally, 19 units were handed over under the Hari Krishna Phase IV project, with the balance units coming from other ongoing developments.
The company has maintained a good reserves of around Rs. 620 Crores in FY25 with borrowings decreasing on YoY basis from Rs. 76 Crores to Rs. 64 Crores, down 15 percent and their cash and cash equivalents has increased from Rs. 689 Crores to Rs. 701 Crores, up 1.7 percent
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