Supreme Engineering Limited's CIRP Terminated Following Settlement Reached with Creditors
Supreme Engineering Limited has been taken out of the Corporate Insolvency Resolution Process (CIRP) after the National Company Law Tribunal (NCLT), Mumbai Bench, allowed an application to withdraw the proceedings due to a settlement being reached between the company and the parties involved.The NCLT order, dated August 6, 2026, confirmed that the CIRP against Supreme Engineering Limited stands withdrawn and terminated. This decision followed the acceptance of a settlement concerning the ongoing insolvency matter.
As part of the court's directive following the termination of the process, the Resolution Professional has been instructed to hand over the control and possession of the company, including all associated records, back to the erstwhile management of Supreme Engineering Limited.
The proceedings involved the Bank of India as the Financial Creditor. The NCLT confirmed that the settlement had reached an agreement between the parties, leading to the approval of the withdrawal of the CIRP process by the Committee of Creditors (CoC).
Key details regarding the court order and the insolvency matter are summarized below:
| Particulars | Details |
|---|---|
| Authority | Hon'ble National Company Law Tribunal, Mumbai |
| Parties Involved | Bank Of India vs Supreme Engineering Limited |
| Nature of Action | Final order passed in IA (I.B.C)/3402(MB)2026 under Section 7 of the Insolvency and Bankruptcy Code, 2016 |
| Date of Order | August 06, 2026 |
| Outcome Summary | The NCLT granted permission for the application to be withdrawn, noting the settlement between the parties. |
The outcome has been reported as having no material adverse impact on Supreme Engineering Limited, according to the tribunal's assessment of the order. The company is now free from the rigours of the CIRP process following this resolution.
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