Dharan Infra-EPC Near CIRP Exit as NCLAT Directs Withdrawal Application Before NCLT Mumbai Bench

The National Stock Exchange and BSE Limited reported that Dharan Infra-EPC Limited has moved closer to exiting its Corporate Insolvency Resolution Process after clearing its main financial debt and securing an interim halt on further insolvency steps from the National Company Law Appellate Tribunal, pending a withdrawal application before the NCLT Mumbai Bench.

Dharan Infra-EPC Limited, earlier known as KBC Global Limited and Karda Construction Limited, entered CIRP after lenders triggered proceedings, following which the suspended Board of Directors approached the National Company Law Appellate Tribunal seeking a stay on the ongoing process while pursuing a settlement with the principal financial creditor.

During the mandatory claim verification window under CIRP, the company reached a one-time settlement with Tata Capital Housing Finance Limited, identified as the original financial creditor, and on December 31, 2025, Dharan Infra-EPC Limited fully repaid all outstanding dues under this arrangement, clearing the exposure that had prompted the insolvency move.

Following the debt repayment, on January 6, 2026, the Hon'ble NCLAT directed the Interim Resolution Professional to file an application under Section 12A of the Insolvency and Bankruptcy Code, 2016, before the NCLT Mumbai Bench, seeking formal withdrawal of the CIRP, while also clarifying that the Interim Resolution Professional must continue to collate creditor claims received during the process.

Alongside the legal developments, the stock of Dharan Infra-EPC Limited, listed on NSE under the symbol DHARAN and on BSE with code 541161, remains weak; Trendlyne data shows the share trading at Rs 0.23 on both exchanges, down 4.17% intraday, despite gaining 4.55% over the previous week but losing 58.18% for the quarter and 72.29% over the last year, with a market capitalisation of Rs 120.26 Cr as of January 9, 2026.

Metric	Value	Date / Reference
52-week high (Rs)	0.86	January 15, 2025
52-week low (Rs)	0.21	January 5, 2026
Current market price (Rs)	0.23	Latest Trendlyne reading
Fall from 52-week high	About 73%	Based on current price

Over the past year, Dharan InfraEpc shares have moved from a 52-week high of Rs 0.86 on January 15, 2025, to a 52-week low of Rs 0.21 on January 5, 2026, leaving the stock trading only slightly above its lowest level at Rs 0.23, signalling heavy selling pressure and visibly cautious investor sentiment around the counter.

Dharan Infra-EPC Limited corporate actions and business profile

Dharan Infra-EPC Ltd. operates in engineering, procurement and construction, along with real estate development, and since its listing on BSE and NSE the company has carried out two bonus share issues and two stock splits, including a bonus on April 4, 2025, in a 1:1 ratio and a stock split on August 12, 2021, in a 2:1 ratio.

The combination of cleared dues to Tata Capital Housing Finance Limited, the NCLAT directive to seek CIRP withdrawal under Section 12A, and the continuing weakness in the Dharan Infra-EPC Limited share price leaves the company at a stage where legal normalisation is progressing while equity investors remain cautious, with future sentiment likely to track the outcome before the NCLT Mumbai Bench and any improvement in operating performance.