Published on : 10 Oct 2025, 4:08 am 2 min read

Shardul Amarchand Mangaldas & Co. acted as legal counsel to the Committee of Creditors (CoC) of Hindusthan National Glass & Industries Limited (HNGIL), led by State Bank of India, in connection with the successful completion of the corporate insolvency resolution process (CIRP) of HNGIL.

The CIRP of HNGIL, a leading manufacturer in the glass industry, was among the most complex insolvency proceedings in the manufacturing sector, involving multiple competing resolution plans, extensive stakeholder participation, and significant regulatory and judicial scrutiny. The transaction achieved a recovery of approximately ₹2,500 crore for creditors, including 74.89% for secured financial creditors.

The process was marked by prolonged litigat

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