Intimation of 11th CoC meeting of Shree Hanuman Sugar & Industries Limited pursuant to Regulation 30 of SEBI (LODR) Regulation, 2015. The meeting is scheduled to be held on Wednesday August ....
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Shree Hanuman Sugar & Industries Ltd has informed stock exchanges about its 11th Committee of Creditors (CoC) meeting, scheduled on a Wednesday in August. CoC meetings are held as part of the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, indicating the company is undergoing insolvency proceedings and creditors are deliberating on resolution plans. The intimation has been made under SEBI's Listing Obligations and Disclosure Requirements (LODR) Regulation 30. This is the 11th such meeting, suggesting the resolution process has been ongoing for a considerable time without closure.
The holding of a CoC meeting confirms the company is under insolvency proceedings, which is a negative signal for existing shareholders as their equity could be significantly diluted or wiped out depending on the resolution plan approved by creditors. The high number of meetings (11th) suggests delays in finding a resolution, prolonging uncertainty for shareholders.