Pursuant to Regulation 30 of the SEBI Listing Regulations, this is to inform you that the Extra Ordinary General Meeting (EGM) of the Company will be held on Saturday, June 06, 2026 at ....
CEREBRAINT · price
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Cerebra Integrated Technologies Ltd has called an EGM on June 6, 2026 to seek shareholder approval for initiating Corporate Insolvency Resolution Process (CIRP) under Section 10 of the Insolvency and Bankruptcy Code, 2016. The company has been facing severe financial distress for the past 2-3 years due to lack of working capital, high overheads, and COVID impact, resulting in continuous operational losses and erosion of net worth. The company has defaulted on debts to financial and operational creditors with total outstanding debt of approximately INR 90 crore. Despite exploring alternatives like debt restructuring, fresh capital infusion, and asset sales, the board could not achieve a viable resolution. The EGM will be held via video conferencing with remote e-voting from June 2-5, 2026.
This is an extremely negative development for shareholders. Initiating CIRP means the company is admitting insolvency and will be taken over by a Resolution Professional. Shareholders face potential total loss of investment as creditors will have priority claims over assets.