Yashraj Containeurs Limited (YCL), a company currently undergoing the Corporate Insolvency Resolution Process (CIRP), has informed the stock exchanges regarding the 13th Committee of Creditors (CoC) meeting, held on 15th March 2025. This meeting is part of the ongoing insolvency resolution process as per the provisions of the Insolvency and Bankruptcy Code (IBC), 2016, under the supervision of the Hon'ble National Company Law Tribunal (NCLT), Mumbai Bench.

Regulatory Disclosure Under SEBI Listing Obligations

In accordance with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company issued an intimation to the stock exchanges, as required by Regulation 30. This regulation mandates the disclosure of material events or information that may affect the company’s performance or impact its stakeholders. The 13th CoC meeting was a crucial step in the CIRP process, where creditors and the resolution professional discussed matters related to the company's resolution plan and potential recovery of debts.

CIRP Process and NCLT Involvement

YCL is undergoing the Corporate Insolvency Resolution Process (CIRP) due to financial distress, which was initiated pursuant to the order dated 22nd February 2024 by the Hon'ble NCLT Mumbai Bench, under CP(IB) 533(MB) 2023. The CIRP process is designed to provide the company an opportunity to resolve its financial issues and find a viable solution for the repayment of its creditors. The Committee of Creditors (CoC) plays a key role in deciding the fate of the resolution plan during the CIRP process, and their discussions during the meeting are crucial for the future direction of the company.

Details of the 13th CoC Meeting

The 13th CoC meeting was held on 15th March 2025, and it was a significant milestone in the insolvency process. The resolution professional, Ajit Kumar, who is responsible for managing the CIRP process, confirmed the details of this meeting in the disclosure sent to the stock exchanges.

The CoC is composed of the company’s creditors, who meet periodically to discuss and vote on proposals related to the resolution plan, debt restructuring, and the overall direction of the insolvency process. The CoC meeting typically involves discussions about the status of the ongoing resolution process and the progress made towards finding a solution.

Resolution Professional’s Role

Ajit Kumar, the Resolution Professional for Yashraj Containeurs Limited, is overseeing the entire CIRP process. As per his certification, he is an authorized insolvency professional with the IBBI registration number IBBI/IPA-003/IP-N00062/2017-2018/10548. He is responsible for managing the company's assets, liaising with creditors, and ensuring the compliance with the Insolvency and Bankruptcy Code (IBC) during the process. His role includes organizing the CoC meetings, taking votes from creditors on proposed plans, and reporting the progress to the NCLT.

Compliance with SEBI Regulations

The disclosure of the 13th CoC meeting is made in line with the requirements set forth in the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. By informing the stock exchanges, the company ensures that it is transparent and compliant with regulatory standards related to corporate governance and disclosure requirements. This transparency helps maintain investor confidence during the CIRP process.

Conclusion: What to Expect Next

With the 13th CoC meeting now concluded, the company will continue to work on resolving its financial issues and moving forward with the resolution process. Stakeholders and investors will be keenly monitoring further developments, including any updates from subsequent CoC meetings or a final resolution plan. The next steps will likely include the finalization of the resolution plan for submission to the NCLT for approval.

In summary, Yashraj Containeurs Limited is undergoing an important phase of its CIRP, with regular CoC meetings providing the structure for resolving the company’s financial distress. The latest 13th CoC meeting marks another step in this process, with ongoing compliance with SEBI and NCLT requirements.

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