Pursuant to the provisions of Regulations 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the COC in their meeting held today ....
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Tricom Fruit Products, whose fruit/agro processing operations have been discontinued, held its 11th Committee of Creditors (CoC) meeting on May 27, 2025, where audited financial results for FY25 were noted and approved by the Resolution Professional. The company is undergoing Corporate Insolvency Resolution Process (CIRP) under Section 10 of the IBC, with NCLT having appointed Mr. Prakash Naringrekar as Interim Resolution Professional via order dated August 13, 2024. The company's property, plant and equipment has already been sold by Edelweiss Asset Reconstruction Company, leaving essentially no operating assets. Equity is deeply negative at ₹(8,679.65) lakhs against borrowings of ₹6,564.64 lakhs. The statutory auditor issued an unmodified opinion but flagged material uncertainty around going concern due to ongoing CIRP.
Shareholders face a near-total wipeout risk — the company has no operating assets, deeply negative net worth, and is mid-way through insolvency proceedings, meaning equity value is likely to be negligible. The stock remains a distressed, speculative penny counter with limited near-term recovery prospects unless a resolution plan is approved.