Intimation of Next Date of Hearing
Awaiting price reaction for this filing.
Prabhat Technologies is currently undergoing a Corporate Insolvency Resolution Process (CIRP) and informed BSE about a recent NCLT hearing held on September 3, 2025. During the hearing, an interlocutory application (IA 3990/2025) filed by the Resolution Professional seeking to lift a tax lien on the company's bank account was dismissed as not maintainable. The main matter (IA 68/2021), which concerns the approval of the Resolution Plan, was adjourned and stood over to September 25, 2025 for further consideration. The Resolution Professional was directed to comply with earlier directions to enable the Resolution Plan to be taken up. Another application (IA 1038/2020) was already disposed of in 2020 and was mistakenly listed, to be removed from the board.
The company remains in active insolvency with the Resolution Plan yet to be approved, meaning shareholder value continues to be uncertain and dependent on the NCLT's eventual decision. The dismissal of the lien-lifting application is a minor negative, as it removes one avenue for freeing up company funds.