Intimation of order dated 31st October, 2026 passed by NCLT, New Delhi Bench u/s 9 of IBC, 2016 for admission of Application for initiation of CIRP of Quasar India Limited .

OUASAR INDIA LIMITED CIN: L67 19ODL 19Z9PLCOO9SSs Regd Office Address- H-3O plot No, 6 & Z, Thtrd Floor, Gulshan park, Laxmi Nagar, New Delht, Delhi, India_l1OO92 Email ID: quasarindia 1 .com Contact No: +91 955854271() Date: 04th November, 2026 The Manager Listing Operations, BSE Limited, 20th Floor, P. J. Towers, Dalal Street, Mumbai - 400 001. Scrip Code: 538452 Subi t: Intimatio under lation 30 SEBI (Lis np Oblisa s and Disclosure Requirements) lations.20l5 reild rvith suh-clause l6(c) of Para A of Part A of Schedule III - Admlsston of Arrplication for initiation of CIRP of Quasar India Limited Ref- SEBI Master Circular No. HO/49l 4/14(7\202s-CFD.POD2 762/2026 dated Januan' 30,2026. Dear Sir/Madam, Pursuant to the applicable provisions of the SEBI (Listing obligations and Disclosure Requirements) Regulations, 2015, as amended, we wish to inform you that the Hon,ble National company Law Tribunal, New Delhi Bench, has vide its order dated 3l.r october, 2026, admitted the petition filed under Section 9 ofthe Insolvency and Bankruptcy code, 2016 ("lBC") by Bikit Private Limited ("Applicant/operationar creditor") against euasar India Limited ("company"/"Respondenucorporate Debtor") for initiation of the corporate Insolvency Resolution Process (',CIRp,') in respect ofthe Company. The aforesaid order has been passed under Section 9 ofthe Insolvency and Bankruptcy Code, 2016, read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, whereby Company petition (IB) No. 697ilrrDl2025 filed by the Applicanvoperational creditor has been adm itted by the Hon'ble NCLT, New Delhi Bench, thereby initiating the corporate lnsolvency Resolution process (,clRp,) against euasar India Limited (cIN: L67 t90DLt97 9pLC009555). The company will make further disclosures as and when there are anv material devel in this regard. A copy of the aforesaid Order is enclosed herewith as Annexure - our information and records. IPREC'JriC. o INDIA LIMITED CIN: L67 19ODL19Z9PLCOO9SSs Regd OIIlce Address- H-OO plot No. 6 & 7, Thlrd Floor, Gulshan park, Laxml Nagar, New Delhl, Delht, Indta-l1OO92 Email ID: qqasarindia 1 .com Contact No: +91 9558542710 The details as required under Regulation 30 of the SEBI LODR Regulations read with Master circular No. -Ho/49/14/t4(7)2025-cFD-poD2 /r/3762t2026 dated January 30, 2026 are enclosed as Annexure - A. Kindly take the above information on record. Thanking you, ro r o rYA-uARif&lH,t-i lrl ,n=onr"a,,'rMl' l33i:iJ&.diifliLirtliBiaiaaiir .:'76 Interim Resolution Professional ofeuasar India Limited IP Registration no: IBBVIpA-002 fip-N01023t2020_Zl2l I 1327 6 AFA Valid upto: 31.12.2026 Correspondence Address: 402, 4th Floor, "A" Wing, pushp Vinod No.2, S. V. Road, Borivali West, Mumbai - 400 092. Process Specific Email ID: cirp.quasarindia@gmail.com Registered Email ID: raghunathsb@vahoo.com Encl.: Annexure & NCLT order IN-CP 0B) No. 697lND/2025 dated 3t"t October, 2026 OUASAR INDIA LIMITED CIN: L67 19ODL 1979PLCOO9555 Regd Office Addtess- H-3O Plot No. 6 & 7, Third f'loor, Gulshan park, Laxml Nagar, New Delhl, Delhl, India-l1OO92 Email ID: uasarlndla 1 .com Contact No: +91 9558542710 Annexure - A Details as required under Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI circular - HO/ 49 / 14 / 1 4(7 )2025-CFD-POD2IU 37 6212026 dated t anuary 30, 2026. Pa rticu lars Details I Case/Petition Number CP IB 697lND/2025 2 Authority admitting the application Hon'ble National Company Law Tribunal, New Delhi Bench 3 Name of the ApplicanVOperational Bikit Private Limited Creditor 1 Name of the Corporate Debtor Quasar India Limited 5 Date of admission of application by 3l"t October, 2026 NCLT 6 Name of Interim Resolution Mr. Raghunath Bhandari (Registration No. Professional (lRP) IBBI/IPA-OO2/IP-NO 1O23t2020- 2t/13276) 7 Date of commencement of Corporate Date of Order: 3l't October,2026 Insolvency Resolution Process Date of Upload of Order on NCLT (CIRP) Website- 03'd November, 2026 8 Amount of Default Rs 6,14,52,745/- Period of Moratorium The moratorium shall come into effect from 3lst October, 2026, being the date of the aforesaid Order, and shall remain in force until the completion of the Corporate Insolvency Resolution Process or until the Hon'ble Adjudicating Authority approves the Resolution Plan or passes an "x6@ QUASAR INDIA CIN: L67 19ODL 1979PLCOO9SSs Regd Ollice Address- H-3O Plot No. 6 & 7, Third Floor, Gulshan park, Laxml Nagar, New Delhl, Delhl, India-11OO92 Email ID: uasarlndia 12 il. om Contact No: +91 9558542710 liquidation of the Corporate Debtor, as applicable, in accordance with Insolvency and Bankruptcy Code, 2016. l0 Expected impact on the listed entity The commencement of CIRP shall have an impact on the management and control of the Company in accordance with the provisions of the Insolvency and Bankruptcy Code, 2016. The powers of the Board of Directors ofthe Company shall stand suspended and be exercised by the Interim Resolution Professional. The Company shall comply with the applicable provisions of the Insolvency and Bankruptcy Code, 2016. Further material developments shall be disclosed to the Stock Exchange in accordance with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. BH.4 Thankingw You. dari Interim Resolutign of Quasar India Limited IP Registration no: IBBUIPA-002tr}-N01023?020-20ZLI 1327 6 AFA Valid upto: 31.12.2026 Correspondence Address: 402, 4th Floor, "A" Wing, Pushp Vinod No.2, S. V. Road, Borivali West, Mumbai - 400 092. Process Specilic Email ID: cirp.q uasarindia@gmail.com Registered Email ID: rashunathsb@vahoo.com IN THE NATIONAL COMPANY LAW TRIBUNAL NEW DELHI BENCH COURT-V CP IB 697/ND/2025 Under Section 9 of the Insolvency & Bankruptcy Code, 2016 IN THE MATTER OF: Bikit Private Limited 471/124, Achalbhai ni Chali, Hanzar Cinema Road, Opp. Dabba Bazar Saraspur, Ahmedabad, Gujarat, India, 380018 ….Petitioner/ Operational Creditor VERSUS Quasar India Limited Registered Office: 1971-72, Room No. 3, Ground Floor, Kucha Chelan, Khari Baoli, Chandni Chowk, North Delhi, Delhi-110006 Correspondence Address : D-505, Titanium City Center, Nr. Income Tax Building, Anandnagar Road, Satellite, Ahmedabad-380015 ….Respondent/ Corporate Debtor Order Pronounced On: 31.10.2026 CORAM: SHRI MANNI SANKARIAH SHANMUGA SUNDARAM, HON’BLE MEMBER (JUDICIAL) MS. REENA SINHA PURI, HON’BLE MEMBER (TECHNICAL) CP IB 697/ND/2025 Order Pronounced on: 31.10.2026 Page 1 of 16 APPEARANCE(S): For the Applicant : Mr. Abhishek Bose, Ms. Meghna Rao, Ms. Shreya Pandey, Advs. For the Respondent : Ms. Sneha Mishra i/b Adv. Aadhar Nautiyal ORDER 1. The present application is filed by Bikit Private Limited, the Operational Creditor under Section 9 of the IBC1, read with Rule 6 of the Insolvency and Bankruptcy Rules2, seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against Quasar India Limited, the Corporate Debtor on account of the unpaid advance amount and continuing default amounting to principal of Rs. 5,39,50,000 and contractual simple interest at 12% per annum of Rs. 75,02,745, aggregating to Rs. 6,14,52,745. 2. It is submitted that the Applicant and the Corporate Debtor executed a Memorandum of Understanding (MOU) dated 25.06.2024, under which the Applicant, as buyer, agreed to purchase agricultural goods from the Corporate Debtor. Pursuant to the MOU, the Applicant issued Purchase Order No. BIKIT/PO/2024-25/56 dated 25.06.2024 for supply of agricultural and allied trading goods for a total value of Rs. 15,00,00,000. In terms of the MOU, the Applicant paid an advance of Rs. 5,39,50,000 to the Corporate Debtor in three tranches: Rs. 50,00,000 on 29.06.2024, 1 Insolvency and Bankruptcy Code, 2016 2 Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 CP IB 697/ND/2025 Order Pronounced on: 31.10.2026 Page 2 of 16 Rs. 50,00,000 on 30. [Showing first 8,000 characters — download PDF for full document]