NCLT Delhi admits Aditya Birla Capital's insolvency plea against MPG Realty
This story was originally published at 16:51 IST on 22 December 2025
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NEW DELHI – The Delhi bench of the National Company Law Tribunal has admitted Aditya Birla Capital Ltd.'s plea to start insolvency proceedings against MPG Realty Pvt. Ltd. for unpaid dues of INR 812.85 million. The tribunal appointed RR Insolvency Professionals LLP. as the interim resolution professional of MPG Realty to carry out the functions as per the Insolvency and Bankruptcy Code, 2016.
The present petition made by the financial Creditor is complete in all respects as required by law. The petition established that the corporate debtor was in default of a debt and that the default was more than the minimum amount stipulated under Section 4(1) of the Code, stipulated at the relevant point of time, said a bench of Justice judicial member Mahendra Khandelwal and technical member Anu Jagmohan Singh.
In 2018, Aditya Birla Capital had given financial assistance of INR 900 million to Sequel Buildcon Pvt. Ltd. and Ajnara India Ltd. The loan facility was secured by an irrevocable and unconditional corporate guarantee given by MPG Realty, a real estate company incorporated in 2009.
However, despite giving reasonable time to the principal borrowers to repay the debt, they failed to clear the outstanding payable debt. Owing to the continuous default of the borrowers to repay the debt, Aditya Birla said that it was constrained to issue a legal notice to MPG Realty for invoking the corporate guarantee. MPG Realty has failed to make the payments of the amount due till date, hence Aditya Birla is constrained to approach the tribunal to start insolvency proceedings against the corporate guarantor, said the creditor.
Monday, shares of Aditya Birla Capital ended 0.8% lower at INR 346.10 on the National Stock Exchange. End
Reported by Surya Tripathi
Edited by Akul Nishant Akhoury
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