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Kwality Limited - Corporate Insolvency Resolution Process (CIRP)-Updates - Corporate Insolvency Resolution Process (CIRP)

| Updated on July 20, 2019 Published on July 20, 2019

The Resolution Professional placed the resignation of Ms. Swati Chaturvedi in the meeting of Committee of Creditors of the Company held on July 15, 2019 for their approval. Post discussions and deliberations, the Committee of Creditors decided to vote upon the issue via electronic voting system through electronic means. Central Depository Services Limited (CDSL) was engaged as Authorised Agency to ensure secured system for e-voting on the issue and the e-voting window remained open from 12:00 PM Thursday July 18, 2019 till 12:00 PM on Friday, July 19, 2019. The votes cast in favour of aforesaid resolution represented less than 66% voting share of the total voting share. As per Section 28 (3) of the Code, no action under section 28 (1) shall be approved by the Committee of Creditors, unless by a vote of sixty-six percent of the voting shares.

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Source : BSE - www.bseindia.com

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Published on July 20, 2019
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