Morarjee Textiles Limited has informed the Exchange about Corporate Insolvency Resolution Process
MORARJEE · price
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Morarjee Textiles Limited, which is under the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code 2016, has disclosed that an Implementation and Monitoring Committee (IMC) formed under the approved Resolution Plan held its first meeting on May 13, 2026 via video conferencing. The company was admitted to CIRP by NCLT Mumbai on February 9, 2024 in CP(IB) No. 1318/MB-VI/2022, with Ravi Sethia confirmed as the Resolution Professional by the Committee of Creditors on May 22, 2024. This disclosure is made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The formation of the IMC signals that the resolution plan is moving into the implementation stage following NCLT's May 11, 2026 order.
The scheduling of the IMC meeting indicates the insolvency resolution process is progressing to execution, which is a step toward stabilising the company. However, the company remains under CIRP, and equity shareholders continue to face significant uncertainty regarding the final outcome.