Spectra Industries Limited will hold its 27th Committee of Creditors meeting on July 3, 2026, via video conference to discuss the Corporate Insolvency Resolution Process (CIRP) progress and approve key expenditures. The meeting, convened under Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, will address the renewal of the Corporate Debtor's insurance policy and the approval of CIRP costs incurred to date.

The Resolution Professional, Kamal Kishore Gurnani, will provide a process update during the session. The agenda includes a discussion on any other matters with the permission of the Chair. Following the deliberations, the Committee of Creditors will vote on approving the CIRP costs.

Agenda for the Meeting

The meeting will cover the following key points:

• Process update by the Resolution Professional
• Renewal of the Corporate Debtor's insurance policy
• Approval of CIRP costs incurred till date
• Any other matter with the permission of the Chair

Voting Details

The Committee of Creditors will vote specifically on the approval of the Corporate Insolvency Resolution Process costs incurred till date. The meeting is scheduled to be conducted through the Webex application.

Spectra Industries Limited , a company currently undergoing corporate insolvency resolution process, is now headed for liquidation following a crucial decision by its Committee of Creditors (CoC).

Liquidation Approval

The Committee of Creditors, in a meeting held on September 15, 2025, approved the liquidation of Spectra Industries Limited under section 33 of the Insolvency and Bankruptcy Code, 2016. This decision marks a significant turning point for the company, which has been navigating through financial difficulties.

Meeting Details

The CoC meeting, which took place via video conference, commenced at 4:00 PM and concluded at 4:30 PM. This brief yet consequential meeting sealed the fate of the company, pushing it towards the liquidation process.

Insolvency Timeline

Spectra Industries has been under the corporate insolvency resolution process (CIRP) for some time. The company's financial struggles led to the appointment of a Resolution Professional through an order by the National Company Law Tribunal (NCLT), Mumbai bench, dated June 16, 2023.

Previous Developments

Prior to this decision, the company had been exploring various options to resolve its financial situation:

• On September 3, 2025, the CoC had considered resolution plans received from potential applicants.
• The committee had also approved an extension of the CIRP and discussed the associated costs.
• Earlier, on July 4, 2025, the CoC had approved a further extension of the CIRP, indicating ongoing efforts to find a resolution.

Implications

The decision to liquidate suggests that despite these efforts, a viable resolution plan could not be agreed upon or implemented. This move will likely have significant implications for the company's stakeholders, including creditors, employees, and shareholders.

Next Steps

With the liquidation approved, the next phase will involve the actual process of liquidating the company's assets to settle its debts and liabilities. Stakeholders will be watching closely as this process unfolds.

The liquidation of Spectra Industries underscores the challenges faced by companies in financial distress and the mechanisms in place under the Insolvency and Bankruptcy Code to address such situations.