We Wish to inform you that 20th Meeting of Committee of Creditors is Proposed to be held on Tuesday 24th June 2025. at 5.00 PM.
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Spectra Industries Ltd, which is already under the Corporate Insolvency Resolution Process (CIRP) following an NCLT Mumbai order dated 16 June 2023, has informed BSE about its 20th Committee of Creditors meeting scheduled for 24 June 2025 at 5:00 PM via video conference. The meeting will consider evaluating resolution plans, including their feasibility, viability, and evaluation matrix, as well as ratify costs for Section 29A due diligence and legal vetting of resolution applicants. A key agenda item is considering and approving the resolution plan submitted by Prospective Resolution Applicants (PRAs), and also planning for liquidation costs in case the company is liquidated under Section 33 of the IBC. The filing is signed by the appointed Resolution Professional, Kamal Kishor Gurnani.
This is a routine procedural update in an ongoing insolvency process. The outcome of the resolution plan evaluation at this meeting will be critical — approval could lead to a revival and potential equity value recovery, while non-approval increases the likelihood of liquidation, which would be detrimental to existing shareholders who are last in the priority of payouts.