Outcome of the 15th CoC Meeting held on 01-10-2025
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Kobo Biotech's 15th CoC meeting was held on October 1, 2025, and all six agenda items were approved with overwhelming 99.12% voting share. Key decisions included ratifying expenses of the Resolution Professional (RP), finalising the Request for Resolution Plan (RFRP) and Bid Evaluation Matrix to invite fresh bids, and approving a 90-day extension of the CIRP timeline from October 31, 2025 to January 29, 2026. A new claim from the Maharashtra GST Department for Rs. 72.55 lakh was admitted as an operational creditor. Notably, the previous Resolution Applicant (SRA) had forfeited its deposit for failing to submit the required Performance Bank Guarantee (PBG), prompting the need for a fresh resolution bidding process.
The company remains deep in insolvency proceedings with no approved resolution plan yet. The forfeiture of the previous bidder's deposit is a setback — shareholders face continued uncertainty and likely minimal recovery, as equity holders are last in line. The timeline extension delays any resolution until at least late January 2026.