Pre-Facto intimation on the upcoming 48th meeting of committee of creditors
Awaiting price reaction for this filing.
Value Industries Ltd has informed stock exchanges about the upcoming 48th meeting of the consolidated Committee of Creditors (CoC) scheduled for April 4, 2025. The meeting is part of the ongoing Corporate Insolvency Resolution Process (CIRP) covering Value Industries and 12 other Videocon group companies. The company has been under insolvency since the NCLT admitted it on September 5, 2018, with subsequent orders in August and September 2019. Abhijit Guhathakurta of Deloitte India continues to serve as the Resolution Professional for the consolidated process.
The 48th CoC meeting highlights that the insolvency resolution process has been dragging on for over 6 years, which is negative for shareholders who are unlikely to receive any meaningful recovery. No resolution plan has been finalised yet, keeping the stock highly speculative and risky for retail investors.