Outcome of the 4th CoC Meeting held on 13-01-2025
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Kobo Biotech Ltd is currently under the Corporate Insolvency Resolution Process (CIRP), following an NCLT Hyderabad order dated 13 August 2024 admitting insolvency. On 13 January 2025, the 4th meeting of the Committee of Creditors was held in Mumbai. With 98.86% approval, creditors approved appointing Mrs. Namrata Amol Randeri as the new Resolution Professional at a monthly fee of Rs. 2 lakh plus taxes, replacing the existing RP Mr. Ravindra Chaturvedi. The existing RP was authorized to file the necessary application with NCLT for the replacement. Creditors also approved appointing Advocate M.S. Mano Ranjani at Rs. 40,000 to handle the legal work for this RP replacement.
This filing confirms the company remains under active insolvency resolution with NCLT, meaning shareholder equity is likely to face significant dilution or extinction depending on the resolution plan. The stock remains a high-risk penny stock with limited trading relevance for retail investors until a resolution plan is approved.