In Continuation of our earlier communication dated 30th April, 2025. Pursuant to Regulation 30 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, the monitoring ....
Awaiting price reaction for this filing.
PAE Ltd informed BSE about the outcome of its 8th Monitoring Committee meeting held on 2nd May 2025. The committee approved its own dissolution and formally handed over the management of the company (a corporate debtor) to the successful resolution applicant. This is a continuation of an earlier communication dated 30th April 2025. The meeting lasted about 29 minutes (3:06 PM to 3:35 PM) and was chaired by the Erstwhile Resolution Professional, Mr. Umesh Balaram Sonkar.
This marks the successful completion of the company's insolvency resolution process. Management has transitioned to the new resolution applicant, which means the old promoter/management is no longer in control. Shareholders should expect significant changes in the company's operations and board under the new owner, though their shareholdings remain on record as per the approved resolution plan.