Outcome of 2nd Monitoring committee Meeting held on 01.09.2025
Awaiting price reaction for this filing.
Taaza International Limited has announced that the approved Resolution Plan under the Insolvency and Bankruptcy Code (IBC), 2016 has been fully implemented. The Successful Resolution Applicant (SRA) has remitted the entire resolution plan consideration within the stipulated timelines. Full distribution has been completed to all classes of creditors and shareholders, along with CIRP expenses, as per the approved plan. New directors have been appointed, statutory filings (including Form INC-28) have been made with the MCA, and the Resolution Professional has handed over management and control to the SRA. The company will now file an application before the NCLT for recording the closure of the Corporate Insolvency Resolution Process (CIRP).
This marks the successful end of the company's insolvency proceedings, with the business now fully under new management. Existing shareholders should note that their shareholding was part of the resolution plan distribution, and the stock may see re-rating or renewed trading interest as the company exits the CIRP process and resumes normal operations.