Techindia Nirman Limited has informed the Exchange about Corporate Insolvency Resolution Process
Awaiting price reaction for this filing.
Techindia Nirman Limited, which is currently under the Corporate Insolvency Resolution Process (CIRP), held its 9th meeting of the Committee of Creditors on June 20, 2025. Five resolution plans were submitted by prospective applicants on June 8, 2025, and the CoC evaluated each plan's feasibility and viability. The resolution plan with the highest score was approved by the CoC with 100% majority voting. As a result, the proposal to liquidate the company under Section 33 of the Insolvency and Bankruptcy Code was rejected. The CoC also approved several procedural items including seeking an independent legal opinion on alleged irregularities flagged by a shareholder, sale of the company as a going concern, and setting up an escrow account. The approved resolution plan will now be placed before the NCLT for final approval.
Positive for shareholders — a resolution plan has been approved by creditors, keeping hopes alive for the company's revival rather than liquidation. However, NCLT approval is still required, and existing equity may face significant dilution or write-down depending on the resolution plan's terms.