RCI Industries & Technologies Limited, a company undergoing Corporate Insolvency Resolution Process (CIRP), has informed the public about the latest developments regarding its proceedings. As per Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company made this disclosure to the BSE on November 30, 2024. The update follows their previous communication on November 9, 2024, in which they had mentioned that the matter was filed before the Hon'ble National Company Law Tribunal (NCLT), Bench-III New Delhi.

This matter, along with related issues, was last listed before the NCLT on November 27, 2024, and the hearing will continue with a further listing on January 9, 2025. This hearing is a significant step in the CIRP process, which will decide the fate of the company’s financial restructuring. CIRP is a key process under the Insolvency and Bankruptcy Code (IBC) that ensures resolution of stressed companies and protection of creditors' rights.

The NCLT's decision on January 9, 2025, could have a major impact on RCI Industries & Technologies Limited's future, as the outcome could guide the company's next steps in its restructuring efforts. This hearing will also address any other connected matters related to the insolvency process.

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RCI Industries & Technologies Limited is one of the companies currently under the CIRP, and the National Company Law Tribunal's decision will be crucial not only for the company's stakeholders but also for the broader corporate sector, which is closely watching the proceedings.

The CIRP process ensures that the company’s debts are managed properly, and if no resolution is found, it could lead to liquidation. However, the Resolution Professional, Mr. Brijesh Singh Bhadauriya, is working to ensure a fair and efficient process to resolve the company's issues.

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