Intimation of Next Date of Hearing
Awaiting price reaction for this filing.
Prabhat Technologies is currently undergoing Corporate Insolvency Resolution Process (CIRP) and informed BSE about the latest hearing before NCLT Mumbai bench on September 2, 2025, with further clarifications listed for September 3, 2025. The tribunal directed the Resolution Professional to file an updated Form H, clarify the impact of reclassifying certain financial creditors as operational creditors (which could collapse the current resolution plan), and align payment timelines for dissenting financial creditors with Supreme Court guidelines (Jaypee Kensington case). The matter involves Prabhat Telecom India Ltd, and SBI is a key financial creditor pushing for reclassification of Ad-Sonic (HK) Co. Ltd and ATG (India) Ltd as operational creditors.
Shareholders face continued uncertainty as the resolution plan could collapse and force a fresh CoC vote if reclassification occurs, meaning equity holders may see further delays or dilution; the stock remains risky given the prolonged insolvency and no confirmed resolution.