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 ....
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 informed BSE about its 5th Committee of Creditors (CoC) meeting held on 27th January 2025 via video conferencing. The company is undergoing Corporate Insolvency Resolution Process (CIRP) after NCLT Hyderabad admitted the insolvency petition (C.P. (IB) 277/7/HDB/2023) on 17th January 2025, following which a new Resolution Professional (Namrata Amol Randeri) was appointed from 18th January 2025. The CoC includes IM Financial Asset Reconstruction Company (90.97% voting share), Indian Overseas Bank (5.96%), Canbank Factors (1.93%), and Omkara Assets Reconstruction (0.88%). Draft minutes, voting sheet, forensic audit report, cost sheets, and the Request for Resolution Plans (RFRP) were circulated to CoC members, with voting scheduled from 29th to 31st January 2025.
The stock remains under CIRP, meaning equity shareholders are likely to face significant dilution or wipeout depending on the resolution plan outcome. The company is still in the early stages of the insolvency process, so there is high uncertainty and risk for existing investors.