We Wish to Inform you that the Committee of Creditors at its meeting held on Thursday 26th June 2025 has Consider the matter.
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 0.2 pts more than Nifty Microcap 250 and in line with its Auto Components & Equipments peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Spectra Industries Ltd, currently undergoing Corporate Insolvency Resolution Process (CIRP) since NCLT Mumbai's order dated 16 June 2023, held a Committee of Creditors meeting on 26 June 2025. The CoC reviewed the feasibility and viability of resolution plans, discussed the evaluation matrix for scoring applicants, and assessed whether to sell the company as a going concern under Regulation 39C. They also ratified costs for 29A due diligence and legal vetting of resolution plans submitted by Prospective Resolution Applicants (PRAs), considered a plan for meeting liquidation costs, and approved the appointment of Kamal Kishor Gurnani as the liquidator in case the company is pushed into liquidation under Section 33 of the Insolvency and Bankruptcy Code.
The stock remains under severe distress with no resolution plan approved yet. Shareholders face high risk of significant dilution or even liquidation, as the CoC is simultaneously evaluating resolution plans while preparing a backup liquidation plan and appointing a liquidator.