Intimation of Date of next hearing for Approval of resolution Plan.
Awaiting price reaction for this filing.
Prabhat Technologies, which is currently under Corporate Insolvency Resolution Process (CIRP), informed the stock exchange that the NCLAT hearing on April 2, 2025 for approval of its Resolution Plan was adjourned and is now rescheduled for April 24, 2025. The matter involves two Company Appeals (AT) (Insolvency) No. 183 and No. 446 of 2024, with multiple parties including the Resolution Professional Mr. Rajender K. Bhuta. The NCLAT order notes the interim order will continue until the next hearing. The company will update the exchange on the outcome after April 24, 2025.
The stock remains under uncertainty due to the ongoing insolvency process and pending resolution plan approval. Shareholders face continued wait for clarity on the company's revival or winding-up, with no new developments from this hearing other than a postponement. Investors should monitor the April 24 outcome closely as resolution plan approval is a key milestone.