22-Oct-2026 17:57:11
WALCHANNAG : JUD CEMENTS ADMITTED TO CIRP, RS 16.57 CR MACHINERY IN COMPANY CUSTODY
• NCLT Guwahati bench admitted CIRP against customer JUD Cements vide order dated October 12, 2026; company learnt of it on October 21, 2026 • Transaction was manufacture and supply of a highly customized large machinery for a cement plant • Machinery remains undelivered and is in the safe physical possession and custody of Walchandnagar • Total value recoverable for the machinery was ₹16.57 Cr; post impairment the WIP book value stands at ₹92 L only • WIP already impaired by ₹15.65 Cr in previous financial years, limiting incremental hit • Guwahati High Court proceedings will be stayed under the Section 14 IBC moratorium; machinery to be sold as-is, modified or salvaged for alternative clients Impact: Neutral (prior WIP impairment and physical possession of the asset limit incremental damage; company sees no material adverse impact on current quarter profitability)
Walchandnagar Industries Ltd
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