Creditors approve request for 60-day extension of insolvency process
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At the 17th Committee of Creditors meeting on 12 October 2026, creditors approved ratification of Corporate Insolvency Resolution Process expenses. They also approved applying to the National Company Law Tribunal for a 60-day extension. No expense amount or voting breakdown was disclosed.
The extra time may aid resolution, but Tribunal approval is pending and higher process costs may reduce value for shareholders and creditors.