REGULATORY · INDIA
NCLT orders liquidation of Hero Electric Vehicles Pvt. Ltd.
Change
The National Company Law Tribunal’s New Delhi Bench ordered liquidation of Hero Electric Vehicles Pvt. Ltd. on March 3, 2026.
Why it matters
The New Delhi Bench of the National Company Law Tribunal passed the liquidation order on March 3, 2026. The insolvency resolution process did not produce an approved resolution plan. The tribunal recorded that no resolution proposal received the required support from creditors within the timeline set under the Insolvency and Bankruptcy Code. The tribunal therefore ordered liquidation under the IBC framework.
Implications
- • The corporate insolvency resolution process for the company is terminated.
- • Liquidation procedures under the Insolvency and Bankruptcy Code govern asset realization and creditor claims.
- • Resolution plans are no longer being considered for the company.
Who is affected
- • Creditors
- • Company owners and management
- • Insolvency professionals and potential liquidators
- • Employees
What to watch
- • NCLT order date: March 3, 2026
Source
Topics