Outcome of the 7th CoC Meeting held on 06-05-2025
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Kobo Biotech Limited, currently under Corporate Insolvency Resolution Process (CIRP), held its 7th CoC meeting on May 6, 2025. All four agenda items were approved with 100% voting, including ratification of expenses incurred by the Resolution Professional (RP) since the 6th meeting and approval of operational costs from December 2024 to April 2025 as CIRP costs. The CoC also approved filing an application with NCLT Hyderabad to seek a 60-day extension of the CIRP timeline (from 15.05.2025 to 14.07.2025) beyond the standard 270-day limit, as the resolution process is still ongoing. Additionally, advocate Adv. M.S. Mano Ranjani was appointed with a lump sum fee of Rs. 75,000 to represent the RP in an application filed by Avon Organics Limited Workers Union regarding claims.
The company remains deep in insolvency proceedings with no resolution plan approved yet. Shareholders should note that the insolvency process is being extended, meaning continued uncertainty, potential equity erosion, and no near-term recovery of value. The CIRP costs are mounting and being added to the company's debt stack.