Business Update13 May 2026, 05:11 pm
Morarjee Textiles Constitutes Implementation & Monitoring Committee
AI Summary
Morarjee Textiles Ltd. announced the constitution of an 'Implementation and Monitoring Committee' (IMC) as per the NCLT order dated May 11, 2026, following the approval of the Resolution Plan. The IMC includes the erstwhile Resolution Professional, a representative of the Resolution Applicant (Shriniwas Spintex Industries Private Limited), and a representative from Secured Financial Creditors (Indian Bank). This is a continuation of the disclosure dated May 12, 2026.
Key Highlights
- Morarjee Textiles forms Implementation and Monitoring Committee (IMC).
- IMC includes representatives from Resolution Professional, Applicant, and Indian Bank.
- This follows NCLT approval of the Resolution Plan.
- Announcement is under Regulation 30 of SEBI (LODR) Regulations 2015.
Price Impact
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