Morarjee Textiles Limited has informed the Exchange about Corporate Insolvency Resolution Process
MORARJEE · price
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Awaiting price reaction for this filing.
Morarjee Textiles Limited has informed the stock exchanges about its 35th Committee of Creditors (COC) meeting scheduled for 10th March 2026 at 3:00 p.m. The company continues to be under the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016. The resolution process was admitted by the National Company Law Tribunal (NCLT), Mumbai on 9th February 2024 in CP(IB) No. 1318/MB-VI/2022. Mr. Ravi Sethia, initially appointed as Interim Resolution Professional, was confirmed as the Resolution Professional by the COC on 22nd May 2024. The company is part of the Ashok Piramal Group.
For shareholders, this filing is largely procedural — it signals that the long-running insolvency process is still ongoing, now over two years since NCLT admission, with no resolution plan approved yet. Continued CIRP proceedings generally keep the stock highly risky and illiquid, and existing equity holders face significant uncertainty about recovery of value.