Disclosure under Regulation 30 of SEBI (LODR) Regulations 2015- Implementation and Monitoring Committee (IMC) was duly constituted as per attachment
MORARJEE · price
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Morarjee Textiles has disclosed that an Implementation and Monitoring Committee (IMC) has been constituted as per the NCLT Mumbai Bench order dated May 11, 2026, following the approval of the Resolution Plan. The IMC comprises three members: Mr. Ravi Sethia (Erstwhile Resolution Professional), Advocate Jatin Kumar representing Resolution Applicant Shriniwas Spintex Industries Private Limited, and a representative from Indian Bank (Secured Financial Creditors). The company remains under the Corporate Insolvency Resolution Process (CIRP) under IBC 2016, with Mr. Ravi Sethia as the confirmed Resolution Professional since May 2024.
The formation of the IMC marks a procedural step in implementing the approved resolution plan, signaling progress in the insolvency resolution process. This is a standard post-NCLT compliance step and is broadly positive as it moves the company closer to exiting CIRP.