We hereby inform you that NCLAT has passed its order dated 10-07-2025 the copy of the same is enclosed herewith for your reference.
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Awaiting price reaction for this filing.
The NCLAT has disposed of the company's appeal against the NCLT order dated 25.04.2025, which had admitted a Section 7 insolvency application by Financial Creditor Findoc Finvest Pvt. Ltd. for Rs. 2.44 crore (as of 01.05.2022). The appeal was rendered infructuous because the parties reached a settlement on 07.07.2025, with the entire amount paid via demand drafts and CIRP cost agreed to be paid. The IRP has been directed not to take further steps, except as authorized by the CoC, pending a Section 12A application for formal settlement before the Tribunal. A Section 12A read with Regulation 30A application will now be filed to give legal effect to the settlement.
Positive for shareholders — the company has avoided a full-fledged insolvency resolution process by settling the Rs. 2.44 crore debt in full. With the NCLAT disposing the appeal and the Section 12A withdrawal application pending, the threat of CIRP has been effectively neutralized, reducing near-term insolvency risk for the stock.