Info-Drive Software Resumes Corporate Insolvency Resolution Process

NCLT appoints Mr. Sumeet Surendra Chimbalkar as the new Resolution Professional.
Liquidation order of 2022 stands set aside following NCLAT directive.

Reader Takeaway: The company shifts from liquidation to resolution, offering a fresh chance at corporate revival via CIRP.

What just happened

Info-Drive Software Ltd has moved back into the Corporate Insolvency Resolution Process (CIRP). This follows a legal reversal of the company’s previous liquidation status. The NCLT, acting on directives from the NCLAT, has officially appointed Mr. Sumeet Surendra Chimbalkar as the Resolution Professional (RP) to lead the process. The RP has already assumed charge of the company’s affairs.

Why this matters

This transition is critical for stakeholders as it pauses the liquidation path—which implies a total wind-up of company assets—and replaces it with a structured resolution process. The aim of the CIRP is to find a way to revive the company or restructure its debt, providing a better alternative than the finality of liquidation. The RP is now in the process of reclaiming administrative access to company portals to resume mandatory market compliances.

The backstory

The company was initially admitted to liquidation on April 6, 2022, by an NCLT order. Following an appeal by the Committee of Creditors, the NCLAT intervened. On March 30, 2026, the NCLAT set aside the liquidation order, instructing the committee to appoint a new RP to manage the resolution. Subsequent NCLT orders in August 2026 formalized the appointment of Mr. Chimbalkar.

Risks to watch

The company is in a complex legal transition. The primary risk remains the uncertainty of the resolution outcome. Investors should watch for the RP’s upcoming reports, which will detail the viability of the company and the timeline for creditor meetings. Additionally, the RP is currently working to secure access to BSE filing systems, which may cause a temporary delay in administrative disclosures.

What to track next

Stakeholders should monitor all future exchange filings for the RP’s progress report, updates on the Committee of Creditors meetings, and any potential proposals for the revival of the company’s operations.