Pre-facto Intimation of the upcoming 49th Meeting of the Committee of Creditors
Awaiting price reaction for this filing.
Videocon Industries Ltd, along with 12 other Videocon group companies under a consolidated corporate insolvency resolution process (CIRP), has informed the stock exchanges about its upcoming 49th Committee of Creditors (CoC) meeting scheduled for May 7, 2025. The company has been under CIRP since the NCLT order dated June 5, 2018, read with orders in August and September 2019. The meeting is being conducted under the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. Abhijit Dahiya from Deloitte India Insolvency Professionals LLP is acting as the resolution professional for the 13 Videocon group companies.
This is a routine procedural filing and does not indicate any new development. Shareholders should note that the company has been under insolvency proceedings for nearly 7 years, and no resolution plan has yet been approved despite 49 CoC meetings. The stock remains illiquid and high-risk, with the outcome of the ongoing CIRP being the key catalyst for any value recovery.