Outcome of the 12th CoC Meeting held on 04-07-2025
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Kobo Biotech Limited, currently under Corporate Insolvency Resolution Process (CIRP), held its 12th CoC meeting on July 4, 2025. Of the five resolution plans submitted by potential bidders, only CVK Technologies Private Limited's plan was approved with 100% voting share; plans from Resurgent Property Ventures, Sun (Inox) Steels, Beaufond Industries, and Verity Knowledge Solutions were rejected. The approved plan will now be submitted to NCLT for final approval. CIRP costs, operational expenses for May–June 2025, and the appointment of advocate Adv. Mano Ranjani (for a consolidated fee of Rs. 1,25,000) were approved with 100% voting. However, the performance-linked incentive fee for the Resolution Professional was rejected with 100% voting. The continuation of the current RP Namrata Randeri was approved with 99.12% voting share.
This represents progress toward exiting CIRP, as a single resolution plan has been cleared by creditors. However, the plan still requires NCLT approval, and the company's stock remains under suspension risk. Shareholders should expect continued uncertainty until NCLT passes a final order on the approved resolution plan.