Alps Industries Limited has informed the Exchange about the Outcome of the Eighth Meeting of Committee of Creditors held on May 16, 2025.
Awaiting price reaction for this filing.
Alps Industries is currently undergoing the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, and this filing shares the outcome of the 8th Committee of Creditors (CoC) meeting. The key items discussed include: the status of resolution plans received from prospective resolution applicants, an application filed by Kotak Mahindra Bank against the resolution professional challenging the rejection of its claim, a claim received from the Delhi Department of Trade & Taxes, the methodology for maximising value from the submitted resolution plans, the estimated cost of running the CIRP, and notices received from the EPFO. All agenda items were discussed and noted, with no final approval of a resolution plan mentioned in this update.
The company remains in insolvency proceedings with no resolution plan yet approved; the ongoing creditor disputes (notably from Kotak Mahindra Bank) and claims from government departments could delay the final resolution and keep the stock risky for shareholders. Until a resolution plan is approved by the CoC and the NCLT, the equity may continue to trade with significant uncertainty.