Shirpur Gold Refinery Limited has informed the Exchange regarding 'Prior Intimation of Resolution Professional (RP) Committee meeting (in lieu of suspended Board of Directors) Under Regulation 29 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015'.
Awaiting price reaction for this filing.
Shirpur Gold Refinery Limited has informed the stock exchange about an upcoming meeting of the Resolution Professional (RP) Committee, which is acting in place of the suspended Board of Directors. This prior intimation is filed under Regulation 29 of SEBI's Listing Obligations and Disclosure Requirements Regulations, 2015. The presence of a Resolution Professional and a suspended Board strongly indicates that the company is currently under the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code (IBC). The company is required to give advance notice of committee meetings where key matters such as financial results, fundraising, or restructuring decisions are likely to be considered. Specific agenda items and the meeting date would be disclosed in the subsequent outcome filing.
For shareholders, this confirms that the company's Board remains suspended and decisions are being taken by the Resolution Professional, signalling ongoing insolvency proceedings. The stock remains a high-risk, speculative holding pending resolution of the CIRP process, and outcomes from the upcoming meeting could materially affect share value depending on what is approved.