BIL Vyapar Limited (formerly Binani Industries Limited) has announced its fourth Committee of Creditors meeting scheduled for February 13, 2026, under the ongoing Corporate Insolvency Resolution Process. The company disclosed this development under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, continuing the structured resolution process that began with the National Company Law Tribunal's order.

Recent Committee of Creditors Activities

The company previously concluded its third Committee of Creditors meeting on February 2, 2026, with e-voting completed on February 4, 2026. During this meeting, the committee approved several critical resolutions including the appointment and fees for a Transaction Auditor and extended the Expression of Interest submission deadline to February 19, 2026.

Resolution Professional Management

Ms. Rachana Jhunjhunwala continues to manage the Corporate Insolvency Resolution Process as the appointed Resolution Professional. Her appointment by the National Company Law Tribunal was formalized through an order passed on January 13, 2026, and received on February 4, 2026. The Resolution Professional holds IBBI Registration Number IBBI/IPA-001/IP-P00389/2017-18/10707 with AFA validity extending until December 31, 2026.

Corporate Insolvency Resolution Process Status

The company remains under the Corporate Insolvency Resolution Process with all affairs, business, and assets being managed by the Resolution Professional in accordance with the Insolvency and Bankruptcy Code 2016. The upcoming fourth Committee of Creditors meeting represents continued progress in the structured resolution process, following the recent approvals for transaction auditing and extended EOI deadlines.

Company Information and Exchange Listings

BIL Vyapar Limited operates under CIN L24117WB1962PLC025584 and maintains its corporate office at Mercantile Chambers, 12, J.N. Heredia Marg, Ballard Estate, Mumbai 400001. The company is listed across multiple exchanges and focuses on management consultancy services.

BIL Vyapar Limited, formerly known as Binani Industries Limited, has achieved a significant milestone in its corporate insolvency resolution process with the formation of the Committee of Creditors (CoC) on December 13, 2025. The company entered into the insolvency resolution process following an order by the National Company Law Tribunal (NCLT) on November 13, 2025.

Committee of Creditors Formation

Interim Resolution Professional CA Subodh Kumar Agrawal has constituted the Committee of Creditors in accordance with Section 18 and 21 of the Insolvency and Bankruptcy Code, 2016. The committee comprises financial creditors who will play a crucial role in the resolution process.

Key Process Details

The insolvency resolution process timeline remains structured with specific milestones:

Related Party Exclusions

Triton Trading Co. Pvt. Ltd., identified as a related party with claims worth ₹51.77 crores, has been excluded from voting rights in the Committee of Creditors as per Section 21(2) of the Insolvency and Bankruptcy Code. Related parties do not have representation, participation, or voting rights in creditor meetings.

Current Status and Implications

The formation of the Committee of Creditors marks a critical phase in the resolution process, as these creditors will now evaluate and vote on resolution plans submitted for BIL Vyapar Limited. The company's affairs, business, and assets continue to be managed by the Interim Resolution Professional under NCLT supervision.

The suspended Board of Directors includes Managing Director Archana Manoj Shroff and several other directors who remain as participants without decision-making authority during the resolution process. All stakeholders have been notified of the Committee formation as required under regulatory compliance.