The RP wants to infrom that in 6th CoC Meeting their were six agendas were discussed and put fro votting and the same were approved by the CoC Members.
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Rama Paper Mills is currently undergoing the Corporate Insolvency Resolution Process (CIRP), and the Resolution Professional held the 6th CoC meeting on 17th March 2025 via video conferencing. Six agenda items were discussed and subsequently put to e-voting, all of which were approved by the CoC members. The approved items include ratification of operational expenses, Resolution Professional's fees, legal consultant fees, and fees for an independent agency to verify Section 29A compliance of the resolution plan. Importantly, the CoC also approved setting up a monitoring committee for the implementation of the resolution plan, indicating the plan has already been cleared. E-voting took place between 20th and 22nd March 2025, and results were declared on 22nd March 2025.
This is a positive development for shareholders — the CoC has approved a monitoring committee to implement the resolution plan, suggesting the company is moving closer to exiting CIRP. The resolution plan approval paves the way for revival or restructuring, which could lead to potential value recovery for equity holders, though outcomes remain subject to NCLT approval.