The 5th Meeting of Committee of Creditors of Kobo Biotech Limited was held on Monday,27th January,2025 at 03:45 p.m. at 215, Laxmi Plaza, Laxmi Industrial Estate, New Link Road, Andheri ....
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Kobo Biotech Limited, which is undergoing the Corporate Insolvency Resolution Process (CIRP) following an NCLT Hyderabad order dated 17 January 2025, has informed BSE about its sixth Committee of Creditors (CoC) meeting held on 17 April 2025 via video conferencing. Two creditors attended: J M Financial Asset Reconstruction Company Ltd with 99.12% voting share and Omkara Assets Reconstruction Private Ltd with 0.88% voting share. Draft minutes of the meeting were circulated on 19 April 2025, and the voting window runs from 19 April to 22 April 2025. The communication is signed by the Resolution Professional appointed by NCLT.
The company remains under insolvency resolution proceedings, and existing equity shareholders are likely to face significant value erosion or potential dilution depending on the resolution plan eventually approved by the CoC. Stock price may stay distressed with low liquidity given the ongoing CIRP process.