Supreme Engineering Limited (SUPREMEENG) — Announcement | 1 July 2026

Supreme Engineering Limited (SUPREMEENG) faced admission of a Corporate Insolvency Resolution Process (CIRP) by the NCLT Mumbai Bench on June 23, 2026, following a petition from Bank of India over a Rs. 117.51 crore default as of March 2, 2025. The NCLT accepted the petition, appointed S. Gopalakrishnan as interim resolution professional, and ordered public announcement of the CIRP commencement with a claim submission deadline of July 8, 2026. The court clarified that financial creditors can initiate CIRP based solely on proven default without examining disputes, while operational creditors face stricter hurdles. The moratorium under Section 96 applies only to personal guarantors, not the corporate debtor, and the process is now underway with monthly progress reports required.