Alps Industries Limited has informed the Exchange about Corporate Insolvency Resolution Process
Awaiting price reaction for this filing.
Alps Industries, currently under the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016, held its 10th Committee of Creditors meeting on June 4, 2025. The COC considered resolution plans submitted by Prospective Resolution Applicants and approved one of the plans on May 27, 2025. The professional fees of the Resolution Professional for the period till disposal of the resolution plan or liquidation application by NCLT Allahabad were also approved. Several other items, including the performance-linked incentive fee, best estimate of liquidation costs, proposal for compromise/arrangement in case of liquidation, and liquidator's fee, were not approved. The regulatory fee payable to the IBBI Board was approved.
This is a positive development as the COC has selected a resolution plan, bringing the company closer to revival or acquisition. However, the plan still requires NCLT Allahabad's approval before it becomes final. Shareholders face continued uncertainty as liquidation remains a possibility if the NCLT does not approve the plan. Existing equity is likely to be significantly diluted or wiped out depending on the resolution structure.