Morarjee Textiles Holds 28th and 29th Committee of Creditors Meetings Amid Ongoing Insolvency Process

Morarjee Textiles Limited , a company currently undergoing Corporate Insolvency Resolution Process (CIRP), has recently held two significant meetings of its Committee of Creditors (COC) as part of its ongoing proceedings under the Insolvency and Bankruptcy Code 2016.

28th Committee of Creditors Meeting

The company convened its Twenty Eighth Meeting of the Committee of Creditors on September 12, 2023, at 2:00 p.m. This meeting was a crucial part of the company's ongoing insolvency process.

29th Committee of Creditors Meeting

Following closely, Morarjee Textiles held its Twenty Ninth Meeting of the Committee of Creditors on September 22, 2023, at 5:30 p.m. This rapid succession of meetings indicates the active management of the company's insolvency proceedings.

Management Under Insolvency

The company's affairs, business, and assets are currently being managed by Mr. Ravi Sethia, who was initially appointed as the interim resolution professional by the National Company Law Tribunal, Mumbai, on February 9, 2023. Mr. Sethia's appointment was subsequently confirmed as the Resolution Professional by the Committee of Creditors on May 22, 2023.

Regulatory Compliance

In adherence to regulatory requirements, Morarjee Textiles has duly informed the stock exchanges about these meetings. The notifications were made in compliance with:

• Regulation 30 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015
• Sub-clause 16(g) of Clause A of Part A of Schedule III of LODR

Company Leadership

Despite the ongoing insolvency process, Kishore Dhage continues to serve as the CEO, Whole Time Director, and Compliance Officer of Morarjee Textiles Limited. Mr. Dhage has been responsible for communicating these developments to the relevant stock exchanges.

The frequent meetings of the Committee of Creditors suggest that Morarjee Textiles is actively working through its insolvency process. Stakeholders will be keenly watching for further developments as the company navigates this challenging period.