Outcome of the First COC Meeting held on October 6, 2025
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
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Quadrant Televentures, which is currently undergoing the Corporate Insolvency Resolution Process (CIRP) following an NCLT order dated September 2, 2025, shared the voting results of its first CoC meeting held on October 6, 2025, with e-voting concluding on October 31, 2025. Creditors approved most items with 81.44% support, including ratification of the Interim Resolution Professional's (Atul Kumar Kansal) fee and reimbursable expenses, Going Concern Costs for September 2025, continuation of Pawan Puri and Associates as reviewers, authorisation of executives, and permission for the RP to operate the company's bank accounts. However, the appointment of a Resolution Professional failed badly with only 4.74% approval against the required 66% threshold. Two agenda items — review of security arrangements and appointment of a CFO — were deferred for further discussion.
The failure to appoint a Resolution Professional (just 4.74% approval vs. 66% needed) is a significant development that could delay the insolvency resolution process and create uncertainty for shareholders. With CIRP underway, equity holders remain at high risk of dilution or write-down as creditors drive the company's future direction.