Jyoti Structures Insolvency Resolution Faces Nearly Decade-Long Delay Amid Legal Developments

Jyoti Structures, a company specializing in power transmission lines, has faced a prolonged insolvency process spanning nearly a decade. A dispute with Power Grid Corporation led to a significant loss of business, triggering financial decline. Despite lenders being asked to provide bank guarantees exceeding INR 1,350 crore, progress stalled for over four years. A recent contempt order by the National Company Law Appellate Tribunal (NCLAT) against banks may now enable the full implementation of Jyoti Structures' insolvency resolution plan.