Compuage Infocom Limited has informed the Exchange about the Public Announcement for Sale of Inventory lying at Singapore in the Ordinary Course of Business.
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Compuage Infocom Limited, which is currently under the Corporate Insolvency Resolution Process (CIRP) under IBC 2016, has announced the sale of its hardware inventory lying in Singapore. The Resolution Professional, Mr. Gajesh Labhchand Jain, initiated the sale after approval from the Committee of Creditors in its 15th meeting held on April 11, 2025. The sale notice was published in The Business Times (Singapore) on May 8, 2025, inviting Expressions of Interest by June 5, 2025. Assets being sold include switches, routers, access points, cables, transceivers, hard disks, RAM, CPUs and other hardware from brands like Cisco, Extreme Networks, and Alcatel-Lucent. The sale will be conducted on an 'as is where is' basis as part of the insolvency resolution process.
This signals continued asset liquidation under the company's insolvency proceedings. Shareholders face uncertainty as the company works through resolution, with proceeds from this sale likely going toward creditor repayments rather than business growth. The stock remains risky given the ongoing CIRP status.