Post-facto intimation of Second Meeting of Committee of Creditors (CoC) of the Company
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Unitech International Ltd, which is under the Corporate Insolvency Resolution Process (CIRP), informed the stock exchange about its second CoC meeting held on 22nd September 2025, with e-voting concluded on 6th October 2025. All seven resolutions were approved with 100% consensus by the CoC. Key items approved include the appointment of Mr. Nitin Narng as the new Resolution Professional (replacing the Interim RP), ratification of the Statutory Auditor's appointment at INR 1.25 lakh per quarter, and remuneration of INR 40,000 per month each for the Company Secretary and Accountant. The CoC also approved CIRP costs of around INR 9.36 lakh paid to the Deemed Resolution Professional and an interim funding of INR 12.36 lakh towards CIRP costs from the creditors. A revised office rent of INR 1.35 lakh per month was also approved as part of CIRP costs.
This is a procedural update from a company already in insolvency, so it is unlikely to have a direct positive impact on shareholders, who typically face significant uncertainty during CIRP. The appointment of a new Resolution Professional and continued funding by creditors suggest the insolvency process is active and progressing, but no resolution plan has been approved yet.