CoC approves forensic auditor; resolution applicant eligibility criteria rejected
DPSCLTD · price
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DPSC Limited, now India Power Corporation Limited, has been under the Corporate Insolvency Resolution Process (CIRP) since the NCLT Hyderabad Bench-I order dated 15 May 2026. In the 3rd Committee of Creditors meeting held on 10 August 2026, with e-voting closing on 31 August 2026, creditors approved the appointment of M/s PVRN and Co as the Transaction and Forensic Auditor, along with reimbursement of out-of-pocket expenses. However, the eligibility criteria for Prospective Resolution Applicants under Section 25(2)(h) of the Insolvency and Bankruptcy Code failed to get the required majority vote.
Insolvency process continues; rejection of resolution applicant eligibility criteria may delay finalizing the resolution plan and increases uncertainty for shareholders.