Outcome of second meeting of Monitoring Committee of the Company.
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Viksit Engineering Ltd held the second meeting of its Monitoring Committee on April 12, 2025, during which the old (suspended) board was dissolved and three new directors were appointed under an approved Resolution Plan. Mr. Kushal Chaturvedi has been named Non-Executive Promoter Director and Chairperson, while Ms. Manpreet Kaur Lamba and Mrs. Bhumika Parwani have been appointed as Independent Directors for a term of 5 years each. The presence of a Monitoring Committee and references to an 'approved Resolution Plan' indicate the company has come out of the NCLT insolvency resolution process (CIRP under the IBC). All three appointees are confirmed as not debarred by any SEBI order.
For shareholders, this signals a fresh start under a new board following the completion of the corporate insolvency resolution process. The reconstitution is a standard post-resolution step and could restore normal corporate governance, though investors should watch for the new management's business plan and operational revival going forward.