Compuage Infocom Limited has informed the Exchange about the Outcomes of the 16th COC meeting
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Compuage Infocom Limited, which is under the Corporate Insolvency Resolution Process (CIRP) since an NCLT order dated 29 April 2024, held its 16th COC meeting on 30 April 2025 with e-voting concluding on 14 May 2025. The creditors approved four resolutions including a yearly salary increment for current employees, an increase in rent for the registered office in Lower Parel, Mumbai, and ratification of charges paid for delayed filing of cheque-bounce complaints under Section 138 of the Negotiable Instruments Act. Additionally, the COC approved the terms and conditions for a 5th e-auction to sell inventory at the Bhiwandi warehouse, indicating the liquidation or asset-sale track for recovery is still being pursued. A Resolution Professional, Mr. Gajesh Labhchand Jain, continues to manage the company's affairs during the ongoing insolvency process.
Shareholders remain in a wait-and-watch situation as the company is still in insolvency with no approved resolution plan yet visible. The approval of a 5th e-auction suggests prior attempts to sell assets have not yielded acceptable bids, which is a negative signal for recovery value and prolongs uncertainty for equity holders who are likely to be wiped out.