Cian Healthcare Limited (CHCL) has reached a significant milestone in its corporate insolvency resolution process (CIRP). The National Company Law Tribunal (NCLT) Mumbai Bench has reserved the resolution plan application submitted by Mr. Pradeep Kumar Jain for orders, marking a crucial step towards the company's potential restructuring.

Key Developments

Background

The resolution plan, previously approved by the Committee of Creditors, was submitted to the NCLT on October 7, 2025. This move follows the standard procedure under the Insolvency and Bankruptcy Code, 2016, aimed at resolving the company's financial distress.

Next Steps

Cian Healthcare has committed to providing a detailed disclosure upon receipt of the written order from NCLT. This disclosure will include critical information such as:

1. Treatment of existing securities
2. Changes to the shareholding pattern
3. Other material disclosures under the approved resolution plan

Implications

The reservation of the order by NCLT is a pivotal moment for Cian Healthcare Limited. It signifies that the tribunal has concluded its hearing and is now in the process of finalizing its decision. This development could potentially lead to significant changes in the company's structure and operations, depending on the contents of the approved resolution plan.

Regulatory Compliance

In line with the Securities and Exchange Board of India (SEBI) regulations, Cian Healthcare has promptly informed the stock exchange about this development. The company's actions align with the Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015, and the BSE Guidance Note for companies undergoing CIRP.

Stakeholders and investors of Cian Healthcare Limited should stay tuned for further updates, as the final NCLT order could have substantial implications for the company's future.

Cian Healthcare held its 15th Committee of Creditors (CoC) meeting on October 17, 2025, as part of its ongoing Corporate Insolvency Resolution Process (CIRP). The meeting, which lasted from 10:45 AM to 11:15 AM, focused on key procedural matters and significant updates in the resolution process.

Meeting Highlights

• Quorum Confirmation: The meeting began with the confirmation of the quorum and a roll call for participants attending via video conferencing or other audio-visual means.
• Previous Minutes Review: The committee noted the minutes from the previous (14th) CoC meeting held on September 12, 2025.
• NCLT Hearing Update: The Resolution Professional informed that the next National Company Law Tribunal (NCLT) hearing for the approval of the Resolution Plan is scheduled for November 6, 2025.

Resolution Plan Modifications

The CoC discussed and approved modifications to the resolution plan submitted by Mr. Pradeep Kumar Jain, the Successful Resolution Applicant. These modifications included:

1. Amendments to Clause 7.4(k) and Clause 8, pertaining to the accounting treatment in the Resolution Plan.
2. Revision of the first paragraph in Clause 13 (Part E: Reliefs & Concessions) of the Resolution Plan.

It's worth noting that the NCLT Mumbai Bench had previously permitted this meeting during an October 7, 2025 hearing, specifically to consider these proposed modifications.

Operational Performance

The committee also took note of the company's operational performance, although specific details were not disclosed in the public announcement.

Conclusion

The meeting concluded with the approval of the proposed amendments to the Resolution Plan. This development marks a significant step in Cian Healthcare's ongoing insolvency resolution process, potentially bringing the company closer to a resolution.

Stakeholders of Cian Healthcare should keep a close watch on the upcoming NCLT hearing on November 6, 2025, which could potentially lead to the final approval of the Resolution Plan.