Outcome of the 13th CoC Meeting held on 04-08-2025
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Kobo Biotech Limited, currently under Corporate Insolvency Resolution Process (CIRP), held its 13th meeting of the Committee of Creditors on August 4, 2025. All four agenda items were unanimously approved with 100% voting share. The CoC approved a 21-day extension for the successful resolution applicant (SRA) to submit the Performance Bank Guarantee, and authorized the Resolution Professional to file the resolution plan with NCLT on or before August 14, 2025. The CoC also approved filing an application with NCLT to extend the CIRP timeline by 15 days beyond the 360-day statutory limit (from August 15 to August 30, 2025). Additionally, the RP's performance-linked incentive fee was fixed at 1.5% of payout to secured financial creditors, and legal professional appointments were approved.
The company remains under insolvency proceedings, but progress is being made toward filing the resolution plan with NCLT for approval. Existing shareholders continue to face uncertainty as the approved resolution plan could result in equity dilution, restructuring, or even cancellation of existing shares.