We wish to inform you that 21st Meeting of Committee of Creditors is Proposed to be held on Friday July 4 2025 at 3.30 PM
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Spectra Industries Ltd has informed BSE that its 21st meeting of the Committee of Creditors (CoC) will be held on July 4, 2025, via video conference. The company is currently undergoing the Corporate Insolvency Resolution Process (CIRP) following an NCLT Mumbai order dated June 16, 2023, and the meeting will discuss the way forward in this process. The intimation is signed by the Resolution Professional appointed by NCLT, not by the company's management, confirming the firm is under insolvency proceedings. The fact that this is the 21st CoC meeting indicates the resolution process has been dragging on for over two years.
The stock remains under CIRP with no resolution plan approved yet despite 21 CoC meetings, signalling prolonged uncertainty and elevated risk for shareholders. Existing equity holders face significant dilution or wipeout risk depending on the outcome of the ongoing resolution process.