Key Events and Timeline
- Corporate Insolvency Resolution Process (CIRP) commenced on November 26, 2024, pursuant to NCLT Mumbai Bench-I order.
- Mr. Jayanti Lal Jain was appointed as Interim Resolution Professional and subsequently as Resolution Professional.
- NCLT approved the Resolution Plan submitted by consortium of NG Organics Private Limited and Mr. Nitinbhai Govindbhai Patel on September 9, 2026, under Section 31(1) of IBC.
- CIRP has concluded and company has entered implementation stage of the Approved Resolution Plan.
- Monitoring Committee has been constituted to oversee implementation of the Resolution Plan.
Meeting Details
- Monitoring Committee meeting scheduled for Thursday, November 5, 2026.
- Primary agenda: Consideration and approval of Unaudited Financial Results for quarter and half year ended September 30, 2026.
- Trading Window closure: Will remain closed until 48 hours after conclusion of the meeting, per SEBI (Prohibition of Insider Trading) Regulations, 2015.
Financial Impact
Financial impact not quantified in the disclosure. The meeting will consider and approve the unaudited financial results.
Parties Involved
- Resolution Professional/Monitoring Committee Chairman: Mr. Jayanti Lal Jain (IBBI Registration No: IBBI/IPA-001/IP-P-01792/2019-2020/12845, AFA Valid till 30th June 2027)
- Successful Resolution Applicants: Consortium of NG Organics Private Limited and Mr. Nitinbhai Govindbhai Patel
- Regulatory Authority: Hon'ble National Company Law Tribunal, Mumbai Bench-I
Current Status
Company is under implementation of the Approved Resolution Plan. Board of Directors' powers remain suspended during this phase, with management by the Monitoring Committee.