Dharan Infra-EPC CoC Meeting Set for October 30 as CIRP Continues

Dharan Infra-EPC Limited will hold the first meeting of its Committee of Creditors on 30 October 2026 as its corporate insolvency process continues, after the NCLT Mumbai rejected a withdrawal request despite Tata Capital Housing Finance settling its claim for ₹10 crore.

Why is Dharan Infra-EPC holding its first Committee of Creditors meeting?

Dharan Infra-EPC Limited is holding its first Committee of Creditors, or CoC, meeting on 30 October 2026 to consider business updates, approve CIRP costs and take up the appointment of a resolution professional. The company disclosed the meeting schedule to the exchange on 26 October, under its ongoing Corporate Insolvency Resolution Process, or CIRP.

The CoC is a central decision-making body in an insolvency process under the Insolvency and Bankruptcy Code, 2016. Financial creditors participate in the committee and consider matters connected with the management and resolution of the corporate debtor. The planned meeting is therefore a formal operational step in the continuing CIRP of Dharan Infra-EPC.

The agenda disclosed by the company includes approval of costs incurred in conducting the CIRP. It also includes consideration of the appointment of a resolution professional, who would take forward the process after the interim stage, subject to the applicable creditor decisions and legal framework.

What led to the continuation of Dharan Infra-EPC's CIRP?

Dharan Infra-EPC's CIRP continues because the National Company Law Tribunal, Mumbai, did not allow its withdrawal after finding that claims of other financial creditors remained unresolved. The tribunal dismissed applications seeking withdrawal of the proceedings, which had been initiated following a petition by Tata Capital Housing Finance Private Limited.

The company petition was admitted by the NCLT on 12 December 2025 under Section 7 of the Insolvency and Bankruptcy Code. Tata Capital Housing Finance had filed the petition over a default of ₹28.05 crore, with the detailed disclosure placing the default amount at ₹28.049 crore as of 20 May 2025.

Tata Capital Housing Finance subsequently confirmed receipt of ₹10 crore as a full and final settlement of its outstanding dues and claims. Dharan Infra-EPC said this confirmation was recorded in the lender's closure report dated 2 February 2026. The interim resolution professional and a suspended director had sought withdrawal of the CIRP on the basis of that settlement.

However, the NCLT Mumbai noted that dues claimed by several other financial creditors had not been settled. The creditors identified in disclosures and reports included LIC Housing Finance, Capri Global Capital and Canara Bank. The tribunal's 16 October 2026 order meant that the CIRP would remain in place despite the settlement with the original petitioning creditor.

What are the key figures and dates in the insolvency case?

The key figures show that the original Tata Capital default and settlement were materially smaller than the total claims reported during the CIRP. The interim resolution professional had informed the National Company Law Appellate Tribunal in July 2026 that claims of about ₹600 crore had been received, while one creditor claim was reported at about ₹183 crore.

These amounts are claims reported in connection with the process and should not be read as final recoveries or admitted amounts unless determined under the CIRP. The company has not disclosed an immediate resolution plan, capital restructuring or final outcome in the information provided.

How does the NCLT order affect creditors and investors?

The NCLT order keeps Dharan Infra-EPC within the collective insolvency framework rather than ending the case solely because Tata Capital's claim was settled. This preserves the role of other financial creditors that have raised claims or sought to participate in the proceeding.

For creditors, the CoC meeting provides the next formal forum to review the company's status, CIRP expenses and the appointment of a resolution professional. The process is particularly relevant because multiple lenders opposed withdrawal and cited their own unresolved dues.

For investors, the filing confirms that the insolvency process remains active. It does not announce a resolution applicant, a restructuring proposal, a settlement with all creditors or a timetable for completion. The company also remained subject to a SEBI information request concerning records relating to the period before the CIRP, according to its August 2026 disclosures.

Why does the collective nature of CIRP matter in this case?

The collective nature of CIRP matters because the process is designed to consider claims across financial creditors rather than only the creditor that initially filed the insolvency petition. In this case, the NCLT's decision reflected the presence of claims beyond Tata Capital Housing Finance's settled account.

Dharan Infra-EPC was previously known as KBC Global and was renamed in March 2025, alongside a 1:1 bonus issue. The subsequent insolvency proceedings have placed creditor claims, process costs and the management of the company under the IBC framework.

The immediate development is procedural rather than a resolution outcome. The first CoC meeting can establish the next administrative steps of the CIRP, but the disclosed information does not indicate the outcome of creditor deliberations or the extent of recoveries for any lender.

Conclusion

Dharan Infra-EPC's 30 October CoC meeting follows the NCLT Mumbai decision to continue its CIRP despite Tata Capital Housing Finance accepting a ₹10 crore settlement. With reported claims of about ₹600 crore and several creditors opposing withdrawal, the case remains focused on a collective resolution process.

Investors and creditors will watch the decisions on CIRP costs and the appointment of a resolution professional at the first CoC meeting. Any subsequent disclosure on creditor claims, a resolution plan, or further tribunal proceedings will be important for assessing the process's direction.