A COMPANY UNDERGOING INSOLVENCY AND BANKRUPTCY BOARD OF INDIA (LIQUIDATION PROCESS) REGULATIONS, 2016 VIDE ORDER OF THE NCLT DATED JUNE, 11, 2025
About Richa Industries Ltd.
Richa Industries limited, a leading manufacturing company operational in pre-engineered building, EPC & textile sectors. Richa has delivered many milestone projects from the date of its inception, recently company has delivered a project (Himachal Pradesh) which has been handed over to client in a span of 40 days from supply till erection of the project. The projects was of “Magnum Auto link Pvt Ltd.” And location of project was “Lunapani, Mandi; Himachal Pradesh”. The project was unique in itself where the ground floor is Showroom & First floor has been made for the purpose of workshop. In the industry where delivery of project is a tough task for many; Richa has not even supply but also erected the building in 40 days of time.
Regulatory Information Concerning The Liquidation of Richa Industries Limited
Liquidation is the process of winding up a corporate debtor when the Corporate Insolvency Resolution Process (CIRP) fails to result in an approved resolution plan. Governed by the Insolvency and Bankruptcy Code, 2016 and the IBBI (Liquidation Process) Regulations, 2016, liquidation involves the orderly sale of the company’s assets to repay creditors in a specified order of priority. Upon commencement, a liquidator is appointed by the Adjudicating Authority (NCLT), who assumes control of the company, verifies claims, preserves and protects assets, and distributes proceeds in accordance with Section 53 of the IBC. The objective is to ensure transparency, fairness, and maximisation of value during the dissolution of the company. Liquidation may also be initiated voluntarily or by the resolution applicant, subject to legal thresholds and approvals.
Company Profile
Company History and Evolution
- Incorporation: September 15, 1993, as Richa Knits Private Limited.
- Transformation: Became a Public Limited Company on October 28, 2003.
- Name changed: to Richa Industries Limited on July 15, 2008.
- Diversification: Expanded into Pre-engineered Building (PEB) fabrication and Engineering, Procurement & Construction (EPC) contracts with a unit in Kashipur, Uttarakhand.
Certifications and Listings
- ISO 9001: 2008 certified.
- Listed on the Bombay Stock Exchange (BSE)
- First PEB company certified for OHSAS 18001: 2007 by IRQS in 2015.
- Clientele: Reputed clients in both government and private sectors.
- Strengths: Strict quality control, modern technology, innovative concepts, and adherence to delivery schedules.
Operational Capacities and Utilisations
- Knitting Capacity: 1800 Tons per annum
- Dyeing & Processing Capacity: 6240 Tons per annum
- PEB Plant (Kashipur) Installed Capacity: 72,000 Tons per annum
- Current Production (Overall): 200 MT per month
(Breakeven requires 240–260 MT per month)
Present Clientele
- Arvind Mills Limited
- Bhumi Textiles Limited
- Paramount Textiles P Ltd
- Tushar Textiles P Ltd
- Positex Fabrics Ltd
- Lisse Export P Ltd
- Chandra Fabrics Ltd
Infrastructure Profile
Key Assets
- Textile Plant (Faridabad)
Location: Mauja Village Kanwara Tehsil, Faridabad (since 2006).
Ownership: Self-owned and self-occupied.
Area: 3.01 Acres (Ground + 2 floors). - PEB Plant (Kashipur)
Location: Dhanori Patti, Tehsil Kashipur, Distt-U.S. Nagar (setup in 2008).
Ownership: Self-owned and self-occupied.
Area: 12.8 Acres.
- Head Office (Faridabad)
Location: Plot No. 29, DLF Industrial Area Phase-II, Faridabad (constructed in 2008).
Ownership: Self-owned and self-occupied.
Area: 2587.35 Sq. Yard (Plinth area: 38,442 sq ft; Basement & Ground + 4 floors). - Residential Property
Location: One residential house in #387, Sector-1, IMT Manesar, Haryana.
Public Disclosure
Liquidation of Richa Industries Ltd.
Corporate Insolvency Resolution Process of Richa Industries Ltd.