Minutes after voting of 2nd of Committee of Creditors of M/s. Dhruv Wellness Limited held on Tuesday, 3rd June, 2025, Time 12:00 PM through video conferencing.
Awaiting price reaction for this filing.
Dhruv Wellness Limited, currently under Corporate Insolvency Resolution Process (CIRP) since February 18, 2025, held its 2nd Committee of Creditors (CoC) meeting on June 3, 2025. CoC members representing 98.68% voting share attended, including Axis Bank (55.81%), SBI (41.42%), Kotak Mahindra (1.45%), and Dhani Loans (1.32%), with total admitted claims of about Rs. 37.75 crore. The CoC approved the appointment of two registered valuers and ratified CIRP costs of Rs. 1,81,891. Form G was approved for inviting resolution plans, setting minimum net worth eligibility at Rs. 5 crore (or Rs. 50 crore AUM for financial institutions) and requiring Rs. 10 lakh EMD with EOI plus Rs. 15 lakh with the resolution plan. The Resolution Professional has filed a Section 19(2) application against suspended management for withholding data and a contempt petition against applicant Mr. Deepak Jha for non-payment of Rs. 2 lakh out of an ordered Rs. 3 lakh. Transaction auditor appointment was not approved as major creditors abstained from voting.
The company remains in active insolvency resolution; the approval of Form G means resolution plans will now be invited, which is a key step toward potential revival or liquidation. Shareholders face continued uncertainty as the CIRP process advances, and the suspended board's non-cooperation may delay resolution.