Outcome of the 16th CoC Meeting of Majestic Research Services and Solutions Limited in CIRP
Awaiting price reaction for this filing.
Majestic Research Services and Solutions Ltd (MRSS, Scrip Code 539229) is currently under the Corporate Insolvency Resolution Process (CIRP). The Resolution Professional filed the outcome of the 16th Committee of Creditors (CoC) meeting held on May 30, 2025. Via e-voting, creditors approved the ratification of statutory auditor CA Mayur Pravinbhai Mavani for backdated audits of FY 2021-22, 2022-23, and 2023-24, and appointed CA Swati Kothari as the new statutory auditor for FY 2024-25. They also approved a practicing company secretary for ROC compliances and ratified expenses incurred during the CIRP period. No resolution plan approval was announced in this filing.
This is a routine procedural update during ongoing insolvency proceedings. Shareholders should note that no resolution plan has been approved yet, meaning uncertainty around the company's future continues. The appointment of auditors is a housekeeping step and has no direct impact on stock price.