This is to inform you that in terms of Rg. 32 B of Insolvency and Bankruptcy Board of India (Liquidatio Process) Regulations, 2016, the Nineteenth meeting of the Stakeholders Consultation ....
Awaiting price reaction for this filing.
Punj Lloyd Ltd, which is in liquidation, has informed stock exchanges about the 19th meeting of its Stakeholders Consultation Committee scheduled for April 23, 2025. The meeting will discuss the way forward in the liquidation sale process, including the sale of the company on a going concern basis. This meeting is being called because the last round of e-auction for sale of the company's assets, including sale as a going concern, has failed to attract buyers.
This is a negative development for shareholders. The failure of the e-auction means no buyer has been found for the company's assets or as a going concern, which significantly reduces the likelihood of any meaningful recovery for equity shareholders, who are last in the priority list after creditors and workmen dues.