The Notice is being issued in accordance with the provisions of Insolvency and Bankruptcy Code, 2016 and Regulation 19 of the IBBI (Insolvency Resolution Process for Corporate Persons, ....
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Unitech International Limited has entered the Corporate Insolvency Resolution Process (CIRP) after the NCLT Mumbai Bench admitted insolvency on June 26, 2025, with Mr. Mayur Rajendrakumar Popat appointed as Interim Resolution Professional. The first meeting of the Committee of Creditors (CoC) is scheduled for July 25, 2025 via video conferencing, with Bank of Maharashtra as the sole secured financial creditor holding 100% voting share, having claimed ₹35 crore (admitted at ₹34.99 crore). Two operational creditors filed claims — MUFG Intime India (₹70,387) and BSE Limited (₹10.13 lakh). The estimated CIRP cost budget for the 180-day process is ₹38 lakh, with IRP fees fixed at ₹1.50 lakh per month, and target resolution plan submission by December 9, 2025.
This confirms the company is under formal insolvency proceedings, meaning shareholders face significant dilution or wipeout risk depending on the resolution plan. The stock remains listed on BSE but operational control has shifted entirely to the IRP, and trading in the shares should be viewed with extreme caution given the typical outcomes of CIRP processes.