Services
Equity Trading with CA Abhay
Equity Investment with CA Abhay
Option Trading with CA Abhay
Stock Market Masterclass
FNO Stocks with CA Abhay
NCLT to Consider Resolution Plan for Viksit Engineering Limited on January 9, 2025
Team Finance Saathi
17/Dec/2024
What's Covered Under the Article:
- The NCLT Mumbai Bench will consider the resolution plan for Viksit Engineering Limited on January 9, 2025.
- The case is related to the Corporate Insolvency Resolution Process under the NCLT.
- The decision is scheduled to be heard by the NCLT, Mumbai Bench (Court-II) in January 2025.
Viksit Engineering Limited, currently undergoing Corporate Insolvency Resolution Process (CIRP), has informed the BSE Limited that the Hon'ble National Company Law Tribunal (NCLT), Mumbai Bench (Court-II), will consider a resolution plan for the company on January 9, 2025. This important development follows the directives of Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and was communicated to the stock exchange as part of their disclosure requirements under the SEBI regulations.
The matter of the resolution plan's consideration has been scheduled, and the NCLT Mumbai Bench will assess the plan received by the company during the proceedings. As per the communication sent to BSE, the final hearing is expected to take place on January 9, 2025, unless there are any changes to the court's cause list. This news is crucial for investors and stakeholders of Viksit Engineering Limited, especially those following the company’s insolvency process and future business recovery.
The Corporate Insolvency Resolution Process (CIRP) aims to address the financial difficulties faced by the company and involve key stakeholders in finding a sustainable solution. The resolution plan being considered by the NCLT Mumbai Bench will determine the future course of action for Viksit Engineering Limited, including its potential restructuring and recovery.
This resolution plan holds significant importance for the company’s creditors, employees, and shareholders, as it will define the next steps in the company’s financial revival and governance restructuring. The outcome of this hearing could have long-lasting effects on the business operations and market position of Viksit Engineering Limited.