Evoq Remedies Ltd has been admitted to Corporate Insolvency Resolution Process (CIRP) by the NCLT Ahmedabad on June 9, 2026. An operational creditor filed the petition over a ₹1.95 crore debt. Management control is suspended.

Evoq Remedies Ltd Admitted to Corporate Insolvency Resolution Process

Evoq Remedies Ltd has been admitted to the Corporate Insolvency Resolution Process (CIRP) by the National Company Law Tribunal (NCLT), Ahmedabad Bench, on June 9, 2026. The order follows a petition by an operational creditor regarding a debt of ₹1.95 crore.

Key Figures:

• Status: Admitted to CIRP
• Order Date: 09.06.2026
• Claimed Debt: ₹1.95 crore (₹1,95,00,000)

What just happened

The NCLT Ahmedabad has initiated the CIRP for Evoq Remedies Ltd. This is due to a default on an operational debt amounting to ₹1.95 crore. The operational creditor had advanced payment for goods which were allegedly not supplied or refunded.

Why this matters

Admission to CIRP means the company's management is suspended, and an Interim Resolution Professional (IRP) now manages its affairs. A moratorium is in place, restricting legal actions and asset transfers. This significantly impacts operations and shareholder value.

The backstory

The insolvency was triggered by a default on an operational debt of ₹1.95 crore, related to a purchase order (PO No. 26) worth ₹2.14 crore. The date of default was identified as September 1, 2025.

What changes now

Ms. Dipti Narayan Mundra has been appointed as the IRP. She will manage the company as a going concern and take custody of its assets. A moratorium under Section 14 of the IBC is effective, halting all suits and asset disposal.

Risks to watch

The primary risk is the uncertainty of the resolution process. Investors face potential loss of their investment if a viable resolution plan is not approved or if the company proceeds to liquidation.

Peer comparison

Companies undergoing CIRP typically face significant operational and financial challenges. Their stock performance is often severely impacted, with recovery depending on the successful outcome of the resolution process.

Context metrics

The operational debt stands at ₹1.95 crore, stemming from a purchase order valued at ₹2.14 crore. The default date was September 1, 2025.

What to track next

Investors should monitor updates from the NCLT, the formation of the Committee of Creditors, and any resolution plans proposed for Evoq Remedies Ltd.