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Sterling Biotech Ltd. - Corporate Insolvency Resolution Process (CIRP)-Outcome of meeting of Committee of Creditors

| Updated on January 15, 2019 Published on January 15, 2019

Dear Sir / Madam,

We would like to inform you that 09th meeting of Committee of Creditors of Sterling Biotech Limited was held on Monday, 14th January 2019 at 11.00 A.M. IST at Mayfair Banquets, 254-C Dr. Annie Besant Road, Shivaji Nagar, Worli, Mumbai-400 030, Maharashtra, India.

As per the resolution process of Sterling Biotech Limited, the Resolution Professional (RP) has received one resolution plan from a Bidder and two offer letters from other Bidders.

The summary of the proposed resolution plan and offer letters was presented by the Bidders to the Committee of Creditors (CoC) in their meeting held on 14th January 2019. The CoC has acknowledged all three offers subject to further evaluation and their conformity with Request for Resolution Plan (RFRP) document.

The RP and its advisors are in the process of reviewing the resolution plan and offer letter so as to ensure that the resolution plan and offer letter are in conformity with the provisions of Insolvency and Bankruptcy Code, 2016 and additional requirements as stipulated by the CoC in the process documents.

You are requested to take the same on record.

Pdf Link: Sterling Biotech Ltd. - Corporate Insolvency Resolution Process (CIRP)-Outcome of meeting of Committee of Creditors

Source : BSE - www.bseindia.com

Published on January 15, 2019
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