BIL Vyapar Limited, formerly known as Binani Industries Limited, has informed the stock exchanges about the upcoming Third Meeting of the Committee of Creditors (CoC). The meeting is scheduled to be held on February 3, 2026.

The disclosure has been made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (LODR), read with Schedule III of the said regulations. The intimation was submitted to:

• National Stock Exchange of India Limited (NSE) – Scrip Code: BILVYAPAR

• BSE Limited – Scrip Code: 500059

• The Calcutta Stock Exchange Limited – Code: 12026

This announcement comes amid the company’s ongoing Corporate Insolvency Resolution Process (CIRP).

Background: Corporate Insolvency Resolution Process

BIL Vyapar Limited is currently undergoing Corporate Insolvency Resolution Process (CIRP) under the provisions of the Insolvency and Bankruptcy Code, 2016 (IBC).

The National Company Law Tribunal (NCLT) passed an order on November 13, 2025, and the order was received on November 21, 2025, initiating the insolvency proceedings.

Since then, the company’s affairs, business operations, and assets have been under the management of the Interim Resolution Professional (IRP).

Role of the Interim Resolution Professional

The company is being managed by:

Mr. Subodh Kumar Agrawal
Interim Resolution Professional
IBBI Reg. No.: IBBI/IPA-001/IP-P00087/2017-18/10183
AFA Valid till 31/12/2026

Under the IBC framework:

• The Board of Directors stands suspended.

• The IRP takes control of management and operations.

• The IRP forms the Committee of Creditors (CoC).

• The CoC takes key decisions regarding resolution or restructuring.

This means that all strategic and financial decisions of BIL Vyapar are currently handled under the supervision of the IRP and creditors.

What Is the Committee of Creditors (CoC)?

The Committee of Creditors consists mainly of the company’s financial creditors. Its key responsibilities include:

• Evaluating resolution plans submitted by bidders.

• Deciding on revival or restructuring strategies.

• Approving or rejecting resolution proposals.

• Recommending liquidation if no viable plan emerges.

The CoC plays a central role in determining the future of the company.

The upcoming third meeting suggests that the insolvency process is actively progressing, and discussions are ongoing regarding possible resolution strategies.

Why the Third CoC Meeting Is Important

The third meeting of the CoC is significant because:

• It may involve discussions on resolution plans, if any have been submitted.

• Creditors may review financial and operational updates.

• Voting on critical matters may take place.

• The future direction of the company could become clearer.

However, the company has not disclosed the agenda items in detail, as CoC meetings are generally confidential in nature.

Regulatory Disclosure Under SEBI LODR

The company has made this disclosure under:

• Regulation 30 of SEBI LODR

• Para 16(g) of Part A of Schedule III

Regulation 30 requires listed companies to disclose material events that may impact investors. Since insolvency proceedings directly affect shareholder value and creditor interests, such disclosures are mandatory.

This ensures transparency and keeps investors informed about important developments.

Impact on Shareholders

For equity shareholders, insolvency proceedings usually involve high uncertainty.

Under the IBC process:

• Financial creditors get priority in repayment.

• Operational creditors follow next.

• Equity shareholders are typically last in line.

If a successful resolution plan is approved, shareholders may face:

• Dilution of holdings.

• Capital restructuring.

• Possible write-down of equity value.

If liquidation occurs, shareholders may not receive any recovery unless assets exceed liabilities.

Impact on Creditors

For financial creditors:

• The CoC provides decision-making power.

• They can approve a resolution plan with a required majority.

• They may agree to restructuring, haircut, or revival plan.

For operational creditors:

• Their claims are considered but they do not have voting rights unless they meet certain thresholds.

The third CoC meeting indicates continued engagement among creditors to determine the best possible outcome.

About BIL Vyapar Limited

BIL Vyapar Limited (Formerly Binani Industries Limited) is registered under:

CIN: L24117WB1962PLC025584

Corporate Office Address:
Mercantile Chambers, 12, J. N. Heredia Marg,
Ballard Estate, Mumbai – 400 001, India.

The company is part of the Binani Group, which has historically operated in sectors such as industrial and manufacturing businesses.

However, due to financial stress, the company entered the insolvency resolution framework under IBC.

Stock Exchange Details

The company’s shares are listed on:

• NSE (Symbol: BILVYAPAR)

• BSE (Scrip Code: 500059)

• Calcutta Stock Exchange (Code: 12026)

Investors trading in these exchanges should closely monitor further disclosures regarding:

• Resolution plan approvals

• NCLT orders

• Change in management

• Financial restructuring updates

Understanding the Insolvency Timeline

The insolvency process generally follows these stages:

1. Admission of insolvency application by NCLT

2. Appointment of Interim Resolution Professional

3. Formation of Committee of Creditors

4. Invitation for Resolution Plans

5. Evaluation and approval by CoC

6. Final approval by NCLT

The third CoC meeting suggests the process is in an intermediate stage where creditors are reviewing options.

Under IBC, the resolution process is time-bound, typically 180 days, extendable under specific circumstances.

What Investors Should Watch Next

Investors should monitor:

• Any update on resolution applicants

• Voting outcomes of the CoC meeting

• NCLT approvals

• Financial restructuring terms

• Possible delisting or equity restructuring

Each of these factors can significantly impact share price movement.

Governance and Transparency

The disclosure has been signed by:

Subodh Kumar Agrawal
Interim Resolution Professional

This confirms that all communications are being made under the authority of the IRP, as required under IBC.

Transparency in disclosures under SEBI LODR Regulations helps maintain investor confidence even during financial distress.

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