Outcome of the 6th CoC Meeting held on 17-01-2025
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Awaiting price reaction for this filing.
Kobo Biotech Limited, currently under the Corporate Insolvency Resolution Process (CIRP), held its 6th meeting of the Committee of Creditors on 17th April 2025. Three agenda items were approved: (1) ratification of expenses incurred by the Resolution Professional since the last CoC meeting, approved with 99.12% voting share; (2) ratification of professional fees including Rs. 15,000 for re-filing an application before NCLT against the Telangana Commercial Tax Department, Rs. 25,000 plus Rs. 15,000 for procuring land documents, approximately Rs. 80,500 for Solapur factory maintenance, and Rs. 20,000 in additional valuer fees, all approved with 100% voting share; (3) extension of the deadline for Prospective Resolution Applicants (PRAs) to submit their resolution plans up to 15th April 2025, approved with 99.12% voting share.
This is a routine procedural update from the insolvency process — no resolution plan has been approved yet. Shareholders remain in a wait-and-watch mode as the CIRP continues, with the next key milestone being the submission and evaluation of resolution plans by PRAs.