Intimation of Next Date of Hearing.
Awaiting price reaction for this filing.
Prabhat Technologies (India) Ltd is currently undergoing Corporate Insolvency Resolution Process (CIRP) and informed BSE about the next NCLT hearing date. The hearing held on July 2, 2025 was adjourned and is now scheduled for July 23, 2025. The case C.P. (IB)/1874(MB) 2019 was filed under Section 7 of the Insolvency and Bankruptcy Code. During the CoC meeting on June 26, 2025, State Bank of India and Union Bank of India expressed they are not in favour of the current Resolution Plan and asked for its re-examination. SBI has alleged fraud or misrepresentation related to a property that was supposed to fund the resolution plan and is seeking re-voting on the plan.
The company remains under insolvency proceedings with key lenders rejecting the current Resolution Plan, raising significant uncertainty about its revival. Shareholders face continued risk as the resolution process is being contested by major creditors, and any adverse NCLT ruling could further erode equity value.