Ambition Mica Ltd: CoC Meeting Approves Letter of Intent to Successful Resolution Applicant

The eleventh meeting of the Committee of Creditors (CoC) for Ambition Mica Ltd was held on 28th February, 2025. The meeting, chaired by RP Gautam Deswal, discussed various agenda items including the approval of the minutes of the previous meeting, refund of EMD to unsuccessful resolution applicants, issuance of a Letter of Intent to the successful resolution applicant, and ratification of CIRP costs. The CoC unanimously approved the issuance of a Letter of Intent to the successful resolution applicant, Mr. Devenkumar Patel, and directed the RP to inform them once the performance guarantee is received. The CoC also approved the CIRP costs and agreed to remit their outstanding contributions at the earliest. The meeting concluded with a vote of thanks to the members present.