Mumbai: NCLT Admits Insolvency Plea Against Dynamix Securities Over ₹518.89-Crore Loan Default

On October 30, 2026, the Mumbai National Company Law Tribunal (NCLT) acknowledged an insolvency petition filed against Dynamix Securities and Holdings Private Limited for a default of ₹518.89 crore. This default occurred due to the company's failure to repay a term loan originally guaranteed by Yes Bank in 2014. The decision was made on the basis of a petition lodged by DB View Infracon Private Limited under Section 7 of the Insolvency and Bankruptcy Code (IBC).

The tribunal underscored that all pertinent loan documentation, including sanction documents, guarantee deeds, and default notices, had been submitted. The NCLT also appointed S. Gopalakrishnan as the Interim Resolution Professional to manage the company and oversee the Corporate Insolvency Resolution Process (CIRP). DB View Infracon had initially acquired a term loan of ₹154 crore from Yes Bank on March 20, 2014.

This was later assigned to the financial creditor for the total outstanding debt of ₹163.49 crore. Despite a consent decree from a Bombay High Court in 2017, granting Dynamix Securities a nine-month repayment period, the company defaulted, leading DB View Infracon to initiate execution proceedings in 2018. After a series of property sales, the outstanding loan was still unpaid, amounting to ₹518.89 crore as of March 31, 2024. The debtor remained silent during the hearing, leading to an ex-parte decision by the tribunal.