<h1>Sathlokhar Synergys E&C Global Limited: Board Notes NCLT Order in Personal Guarantee Proceedings</h1>
The Board of Directors of Sathlokhar Synergys E&C Global Limited recorded an order from the National Company Law Tribunal (NCLT), Chennai Bench, regarding insolvency proceedings initiated against Mr. G Thiyagu, the Chairman and Managing Director and Promoter of the company. This ruling stemmed from a hearing conducted on June 9, 2026.
The NCLT order concerns the initiation of insolvency proceedings based on credit facilities availed by an unrelated entity in January 2014. Mr. G Thiyagu is named in the proceedings due to his capacity as a Personal Guarantor for those specific credit facilities.
Sathlokhar Synergys E&C Global Limited confirmed that neither the company nor any of its other promoters or Directors and KMPs are party to these legal actions. The matter pertaining to the NCLT order is exclusively linked to Mr. G Thiyagu's personal obligations, separate from the affairs, operations, assets, liabilities, or financial position of Sathlokhar Synergys E&C Global Limited.
The company stated that it had not undertaken any guarantee, security, or financial commitment in relation to the obligation forming the subject matter of the proceedings.
Financial Details and Company Impact Assessment
Mr. G. Thiyagu informed the Board regarding the NCLT petition, noting that the default amount sought by the lender before the NCLT was Rs. 3,65,28,644 with further interest. Legal counsel advised Mr. Thiyagu that substantial grounds existed to challenge the NCLT order, including matters relating to limitation and other legal and factual issues. Consequently, he intends to appeal the decision before the National Company Law Appellate Tribunal (NCLAT) and seek appropriate remedies as per law.Upon reviewing the situation based on received legal opinion, the Board determined that the order currently has no material impact on the company's business operations, financial performance, assets, ongoing projects, customers, or employees. The day-to-day management and operations of Sathlokhar Synergys E&C Global Limited continue as usual.
The outcome of the Board meeting underscored the governance importance of the matter given it pertains to the Chairman, Managing Director and Promoter of the company. The company committed to keeping relevant parties informed of any further material developments in this regard.
SSEGL Stock Price Movement
Sathlokhar Synergys E&C Global Limited shares rallied on Friday, gaining 3.82% and settling at a closing price of ₹336.95. The stock movement was supported by brisk trading activity, with a total traded volume of 27,600 shares during the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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