SKIL Infrastructure Limited has informed the Exchange regarding appointment of Interim Resolution Professional (IRP) as Resolution Professional (RP) pursuant to Regulation 30 read with Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Awaiting price reaction for this filing.
SKIL Infrastructure Limited has informed the stock exchange that its Interim Resolution Professional (IRP) has been appointed as the Resolution Professional (RP) under the Insolvency and Bankruptcy Code (IBC). This transition typically happens after the Committee of Creditors (CoC) ratifies the IRP's appointment. The company is currently undergoing the corporate insolvency resolution process (CIRP), with the RP now responsible for managing the company's operations and working on a revival plan. This is part of regulatory disclosure requirements under SEBI's Listing Regulations.
For shareholders, this signals that the company is firmly in the NCLT-driven insolvency process, meaning equity holders are likely to face significant dilution or loss of value depending on the resolution plan. Stock price may remain volatile and suppressed until a resolution plan is approved.