Forbes Technosys Enters Insolvency: NCLT Admits Petition Under IBC

The National Company Law Tribunal (NCLT) has accepted a petition submitted by Forbes Technosys Limited under Section 10 of the Insolvency and Bankruptcy Code, 2016. The ruling handed down on May 14, 2025, is a big boost for the subsidiary of Forbes & Company Ltd.

Main points:

1.Forbes Technosys initiated voluntary Corporate Insolvency Resolution Process (CIRP)

2.NCLT bench of Ms. Reeta Kohli and Ms. Madhu Sinha accepted the petition

3.Move follows as part of continuing restructuring within Forbes group

4.Forbes & Company Ltd has recently finalized demerger of Precision Tools business

This move comes on the heels of Forbes & Company's overall restructuring efforts, such as the recent demerger of its Precision Tools segment. The filing for insolvency of Forbes Technosys can have a bearing on the financial future and current operations of the parent company.

Shareholders and stakeholders will be keeping close tabs on the insolvency process and the resultant bearing it has on Forbes & Company Ltd's overall business strategy.

Sources: NCLT Order, Forbes & Company Ltd Management Discussions, March 25, 2025