Unitech International Limited Schedules First Committee of Creditors Meeting for July 25, 2025

Unitech International Limited , currently undergoing Corporate Insolvency Resolution Process (CIRP), has issued a notice for its first Committee of Creditors meeting scheduled for July 25, 2025, via video conferencing. The company's CIRP commenced on June 26, 2025, with Mayur Rajendrakumar Popat appointed as Interim Resolution Professional.

Key Meeting Details

The meeting agenda includes several important items:

1. Appointment of Resolution Professional: The committee will discuss and vote on the appointment of Mr. Mayur Rajendrakumar Popat as the Resolution Professional, with proposed fees of INR 1.50 lakh per month.

2. Legal Representation: Approval for the appointment of MV Law Partners as legal advisors, with proposed fees of INR 0.50 lakh.

3. CIRP Costs: Ratification of various Corporate Insolvency Resolution Process costs totaling INR 2.40 lakh incurred to date.

4. Estimated CIRP Budget: The total estimated CIRP costs for the 180-day resolution period are projected at INR 38.00 lakh.

Financial Claims and Creditors

The Committee consists solely of secured financial creditors, with Bank of Maharashtra being the primary creditor with claims of INR 35.00 crore. Following the public announcement, the company has received one secured financial creditor claim and two operational creditor claims.

Timeline and Next Steps

The 180-day resolution timeline extends until December 24, 2025. The Interim Resolution Professional is working to ensure continued operations of the company.

As Unitech International navigates through this critical phase, stakeholders will be closely watching the outcomes of this first Committee of Creditors meeting and subsequent developments in the insolvency resolution process.