SKIL Infrastructure Limited has informed the Exchange about the particulars of invitation of resolution plans under section 25(2)(h) of Insolvency Code in the Form specified under regulation 36A(1) read with Regulation 36B(6A) of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Awaiting price reaction for this filing.
SKIL Infrastructure Limited has disclosed to the stock exchange the particulars of inviting resolution plans from potential bidders under Section 25(2)(h) of the Insolvency and Bankruptcy Code, 2016. This is being done as per Regulation 36A(1) read with Regulation 36B(6A) of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, and disclosed under Regulation 30 of SEBI LODR. The step of formally inviting resolution plans indicates that the company is already under the Corporate Insolvency Resolution Process (CIRP) and is now seeking bids from interested parties to revive or acquire the company. No specific details about the timeline, reserve price, or potential bidders have been provided in this disclosure.
This announcement confirms that SKIL Infrastructure is in active insolvency proceedings and is seeking resolution through bids. Existing shareholders face significant dilution or possible extinguishment of their holdings depending on the resolution plan accepted. The stock may see heightened volatility as resolution process developments unfold.