NCLT admits Sandeep Axles for insolvency_NCLT admits Sandeep Axles for insolvency

NCLT admits Sandeep Axles for insolvency

May 21, 2024

Mumbai: The National Company Court (NCLT) New Delhi has recognized Sandep Axles Pvt of Haryana for entering into insolvency proceedings due to failure of the auto component manufacturer to make payments to its suppliers.

Operating creditor Regallll Metal Ferro Alloys has dragged the company to a special bankruptcy court over an unpaid bill of Rs 556.4 crore, reflecting the effectiveness of bankruptcy and insolvency laws, which is expected to help address the growing problem of defaults in the financial system.

Judicial Commissioner Ina Malhotra “Considering the confessions and prepared confessions on behalf of the debtors of the company, there is no impediment to accepting the petition in accordance with the requirements of the law,” he said in his order Vishnu Dutt has been recognized as an expert in interim solutions.

Vishnu Dutt has been appointed as Interim Resolution Specialist and is now responsible for the day to day operations of the company.

Regal Metal supplied goods worth Rs 1 crore to Sandeep Axles 22.2, which paid about three-fourths of the dues.

With the approval of the court, Sandeep Axles resumed operations or went into liquidation as per the approved resolution plan.

Recommended Suppliers

TDDCHEM SINGAPORE PTE.LTD（cnauto）

Retailer

CN Supplier

1 YRS

Main Products:

Titanium dioxide, pigments, fillers, alcohols

Established:

2024-09-13

Company Size:

10000

Contact Supplier

Geely Jiyue 01 Max

LEADING IDEAL L9

Shandong Tuduoduo Digital Technology Co., Ltd

Retailer

CN Supplier

1 YRS

Main Products:

Titanium dioxide, pigments, fillers, alcohols

Established:

2024-08-09

Company Size:

10000

Contact Supplier

Wheel excavator

chengdutuduoduo

Retailer

CN Supplier

1 YRS

Main Products:

Whole vehicle, used car

Established:

2024-08-01

Company Size:

10000

Contact Supplier

Great Wall Artillery 2.0T

Peugeot 301 1.6L

Radar RD6 Pure electricity

Nissan Qijun 2.5L

TDD (QINGDAO ) CROSS-BORDER E-COMMERCE CO.,LTD.

Retailer

CN Supplier

2 YRS

Main Products:

Auto parts、Rubber tyre、Finished car

Established:

2023-01-01

Company Size:

10000

Hebei Changli Auto Parts Co., Ltd

Retailer

CN Supplier

19 YRS

Main Products:

Auto starter and auto alternator and components

Established:

2006-01-17

Company Size:

240

Contact Supplier

auto starter

AUTO STARTER

Hebei Mengwang Automotive Technology Co., Ltd

Retailer

CN Supplier

3 YRS

Main Products:

Air filter、Lubricating oil

Established:

2022-09-07

Company Size:

SMEs

Contact Supplier

Hebei Jinlitong Auto Parts Co., Ltd

Retailer

CN Supplier

17 YRS

Main Products:

Production of starters, generators, engines, cages and related equipment accessories for mini vehicles, cars, agricultural vehicles and diesel vehicles; and import and export business of self-operated products

Established:

2008-10-24

Company Size:

Miniature

Contact Supplier

QUANZHOU JUNHUA MACHINERY CO.,LTD

Manufacturer/Factory

CN Supplier

7 YRS

Main Products:

excavator and bulldozer undercarriage part(track roller,carrier roller,idler,sprocket/segment,track link)

Established:

2018-05-22

Company Size:

5000 square meters

Contact Supplier

undercarriage part for Catpillar D8N D8R track roller single flange 7T9188 246-0775

spare parts undercarriage parts track roller double flange D8N D8R D8L D8T

undercarriage part for Catpillar D8N D8R track roller single flange 7T9188 246-0775

track roller double flange undercarriage part D8R D8N D8T D8L 9W8705 196-9947

Shanghai Lianteng Industrial Co., LTD

Retailer

CN Supplier

17 YRS

Main Products:

Auto parts wholesale; Auto parts retail; Machinery and equipment sales; Sales of electronic components and electromechanical components; Sales of electronic products

Established:

2008-10-22

Company Size:

Minor

Contact Supplier

Yiwei New Energy Technology(Chengdu)Co.,Ltd

Retailer

CN Supplier

3 YRS

Main Products:

New Vehicle, Used Vehicle, Electric Vehicle, Gasoline Vehicle

Established: