Spectra Industries' Committee of Creditors Reviews Resolution Plans in Ongoing Insolvency Process

1 min read Updated on 12 Sept 2025, 06:51 PM

Reviewed by

Radhika SahaniScanX News Team

Overview

Spectra Industries, undergoing Corporate Insolvency Resolution Process (CIRP), held a Committee of Creditors (CoC) meeting on May 26, 2025, to review resolution plans from potential investors. The meeting, conducted via video conference from 16:00 to 17:00, focused on discussing plans submitted to the Resolution Professional. Spectra Industries has been under insolvency proceedings since June 16, 2023, following an NCLT Mumbai order. The company maintains transparency in compliance with SEBI regulations.

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Spectra Industries , currently undergoing a Corporate Insolvency Resolution Process (CIRP), held a crucial Committee of Creditors (CoC) meeting on May 26, 2025, to review resolution plans submitted by potential investors.

Key Meeting Details

The CoC meeting, which took place via video conference, commenced at 16:00 and concluded at 17:00. The primary agenda was to discuss and consider the resolution plans received from various resolution applicants by the company's Resolution Professional.

Background of Insolvency Proceedings

Spectra Industries has been under insolvency proceedings since June 16, 2023, following an order from the National Company Law Tribunal (NCLT), Mumbai. This meeting marks a significant step in the company's ongoing CIRP, as it brings the possibility of a potential turnaround closer to reality.

Transparency and Compliance

In compliance with the Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements Regulations, 2015, Spectra Industries has been maintaining transparency throughout the insolvency process. The company had previously intimated the stock exchange about the scheduled CoC meeting on May 23, 2025, adhering to regulatory norms.

Looking Ahead

While the outcome of the CoC's deliberations on the submitted resolution plans remains undisclosed, this meeting represents a critical juncture in Spectra Industries' insolvency journey. Stakeholders and market observers will be keenly watching for any further developments that may shape the future of the company.

The resolution process is being overseen by a Resolution Professional registered with the Insolvency and Bankruptcy Board of India (IBBI), ensuring adherence to the established insolvency resolution framework.

As the CIRP progresses, more updates are expected regarding the potential revival or restructuring of Spectra Industries. Investors and creditors alike will be anticipating the next steps in this crucial phase of the company's corporate journey.

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