Outcome of the 9th CoC Meeting held on 28-05-2025
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Kobo Biotech Limited is currently undergoing the Corporate Insolvency Resolution Process (CIRP), with a Resolution Professional appointed by NCLT Hyderabad. The company disclosed the outcome of its 9th meeting of the Committee of Creditors (CoC) held on 28 May 2025. The main business discussed involved certain costs incurred since the 7th CoC meeting, which the Resolution Professional advised would be taken up for ratification at the next CoC meeting. No resolution plan was approved at this meeting, and no major decisions were announced.
Shareholders remain in a wait-and-watch situation as the company continues under insolvency proceedings with no resolution plan approved yet. The deferral of agenda items suggests ongoing administrative housekeeping rather than progress toward a resolution, which is typically negative for equity holders who may face dilution or write-off under a final resolution plan.