Intimation of First Monitoring Committee meeting after the Aprroval of Resolution Plan.
Awaiting price reaction for this filing.
Manjeera Constructions Ltd has informed BSE about its first Monitoring Committee meeting scheduled for April 16, 2025, via video conferencing. This follows the NCLT order dated March 26, 2025 (CP(IB) No. 320/7/HDB/2022) approving the company's Resolution Plan. The Monitoring Committee comprises the Resolution Professional, two nominees from the Resolution Applicant, and two nominees from secured assenting financial creditors. Resolution Professional Birendra Kumar Agrawal signed the intimation. The company is now in the implementation phase of its insolvency resolution.
For shareholders, this signals the company is moving past insolvency and into recovery mode under a new management structure. The stock may see reduced uncertainty as the resolution plan takes effect, though equity holders typically face dilution or loss in such outcomes.