Intimation of First COC meeting and constitution of Committee of Creditors
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Quadrant Televentures Ltd, which was admitted to Corporate Insolvency Resolution Process (CIRP) by the NCLT on September 2, 2025 under Section 7 of the IBC, has had its Committee of Creditors (CoC) constituted by the Interim Resolution Professional on September 25, 2025. The first meeting of the CoC is scheduled for October 1, 2025 at 3:00 PM. The CoC comprises five secured financial creditors — IDBI Bank (62.85% voting share), Punjab National Bank (14.07%), LIC of India (13.85%), Kotak Mahindra Bank (4.74%), and State Bank of India (4.49%) — with total admitted claims of approximately Rs. 688.80 crore against total claims of Rs. 824.26 crore. IDBI Bank is the dominant creditor, giving it decisive influence over the resolution process.
This confirms the company is now in a formal insolvency resolution process driven by its lenders, with IDBI Bank effectively controlling the outcome. Existing equity shareholders face a very high risk of being wiped out or substantially diluted, depending on whether a resolution plan is approved or the company goes into liquidation.