PREMIER

Premier Ltd, incorporated in 1944, operates in the engineering, automotive, and industrial sectors primarily in India. The company manufactures CNC machines and heavy mechanical components, serving industries such as wind energy, infrastructure, railways, and defense. Premier Ltd's product range includes large and heavy mechanical components tailored to these sectors. Since January 29, 2021, Premier Ltd has been undergoing a Corporate Insolvency Resolution Process (CIRP) initiated by the National Company Law Tribunal (NCLT), Mumbai bench, under the Insolvency and Bankruptcy Code, 2016. During this period, the Board of Directors' powers are suspended while a Resolution Professional manages the company's operations and financial reporting. Despite the ongoing legal proceedings, the company maintains its manufacturing infrastructure and continues to manage its existing asset base.