Teerth Gopicon Limited (NSE: TGL) – Disclosure of NCLT Order Rejecting Stay Application in CIRP

Date of announcement: 12 September 2026

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Introduction

Teerth Gopicon Limited (symbol TGL) has filed a Regulation 30 disclosure with the National Stock Exchange (NSE) to inform shareholders of a recent order passed by the Hon’ble National Company Law Tribunal (NCLT), Ahmedabad Bench, Court‑2, concerning the ongoing Corporate Insolvency Resolution Process (CIRP).

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Key Points of the Disclosure

1. Background

• CIRP admission: The company was admitted to CIRP on 10 August 2026 by an NCLT order (CP (IB)/408 (AHM) 2025).
• Interim Resolution Professional (IRP): CA Ajit Gyanchand Jain (IBBI Registration No. IBBI/IPA‑001/IP‑P00368/2017‑18/10625) was appointed as the IRP.

2. Recent NCLT Order (10 September 2026)

Aspect	Details
Case reference	IA/1483(AHM)2026 filed in the same petition (CP (IB)/408 (AHM) 2025).
Parties	Applicant: Kataria Plastics Pvt. Ltd. (former whole‑time director, now a suspended board member).<br>Respondent: Teerth Gopicon Limited.
Tribunal	Hon’ble NCLT, Ahmedabad Bench, Court‑2, chaired by Mrs. Chitra Hankare (Judicial) and Dr. V. G. Venkata Chalapathy (Technical).
Relief sought	Stay of all further steps in the CIRP and recall of the 10 August 2026 admission order.
Tribunal’s finding	The application was not maintainable because the applicant had not availed the appropriate remedy (no appeal filed under Section 61 of the Insolvency and Bankruptcy Code, 2016).
Outcome	Application rejected and disposed of; the CIRP proceeds as before. The Committee of Creditors (CoC) has already been constituted.

3. Regulatory Disclosure

• The notice is filed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
• The company acknowledges a delay in filing (the order was received on 11 September 2026, hence the disclosure was made on 12 September 2026).

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Implications for Investors

• CIRP Continuation: The rejection of the stay application means the insolvency resolution process will continue under the existing framework and timelines.
• No change in financial reporting: The disclosure does not contain any new financial metrics, earnings guidance, or operational updates.
• Regulatory compliance: The company has complied with SEBI’s disclosure requirements, albeit with a brief delay explained in the filing.

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This article presents only the facts disclosed by Teerth Gopicon Limited in its Regulation 30 filing dated 12 September 2026. No additional analysis or speculation is provided.