Videocon Industries Limited has informed the Exchange about Corporate Insolvency Resolution Process
Awaiting price reaction for this filing.
Videocon Industries Limited has informed exchanges about the upcoming 50th meeting of the consolidated Committee of Creditors (CoC) scheduled for June 5, 2025. This meeting is part of the ongoing Corporate Insolvency Resolution Process (CIRP) that was admitted by the NCLT on June 6, 2018, covering 13 Videocon group companies under a consolidated process. The meeting will be conducted as per the IBBI Insolvency Resolution Process regulations, with Abhijit Guhathakurta from Deloitte India serving as the Resolution Professional. The CIRP has been ongoing for over 7 years, with multiple NCLT orders referenced including dates in August 2019 and September 2019.
This is a routine procedural update regarding the ongoing insolvency process and does not indicate any immediate resolution. Shareholders should note that the prolonged CIRP (since 2018) significantly diminishes the likelihood of meaningful equity recovery, as resolution typically favors creditors over shareholders.