Minutes after voting of 3rd Committee of Creditors meeting of M/s. Dhruv Wellness Limited (in CIRP) held on Tuesday, 29th July 2025 at 03:00 PM via video Conferencing.
Awaiting price reaction for this filing.
Dhruv Wellness Limited is under Corporate Insolvency Resolution Process (CIRP), admitted by NCLT Mumbai on 18 February 2025. In its 3rd CoC meeting held on 29 July 2025, the Resolution Professional reported receipt of 28 Expressions of Interest from prospective resolution applicants. CIRP expenses of Rs 3.74 lakh (including RP fees for April-June 2025) were approved. New claims worth Rs 1.18 crore from MAS Financial Services and Rs 58,302 from CDSL were received late and are pending NCLT condonation. The RP filed an application under Section 19(2) against the suspended management for non-provision of information. Contempt proceedings against applicant Deepak Jha were withdrawn after he paid Rs 3 lakh. The CIRP period expires on 17 August 2025, and the RP plans to seek a 6-month extension from NCLT.
The company remains in insolvency proceedings with significant uncertainty for shareholders. Notably, Axis Bank (55.81% voting share) and SBI (41.42%) abstained on most key resolutions including the Information Memorandum, auditor appointments, and CIRP extension, suggesting major creditors may be unhappy with the process or the suspended management. Shareholders should expect a prolonged resolution timeline and potential haircut, with the stock remaining risky.