Monitoring Committee Meeting Held for Manjeera Constructions Ltd After NCLT Approval of Resolution Plan
The first Monitoring Committee meeting was held on April 16, 2025, for Manjeera Constructions Ltd after the approval of the Resolution Plan by the National Company Law Tribunal (NCLT). The meeting discussed various matters including the recording of the NCLT Approval Order and Corrigendum Order communication date, the constitution of the Monitoring Committee, the quorum of the Monitoring Committee Meeting, and the voting rights of the Monitoring Committee members. Other topics included the appointment of a Monitoring Agent as the Chairperson of the Monitoring Committee, the notice period for future Meetings of the Monitoring Committee, and the update regarding the intimation of the NCLT Resolution Plan Approval Order to various authorities. The status of the certified copy of the NCLT Resolution Plan Approval Order and INC-28 filing at ROC was also discussed. The meeting noted the amount of unpaid CIRP Cost and Distribution Table, the available cash balance as on date and as expected as on transfer date, and the manner of infusion of the Settlement Amount in the Corporate Debtor by SRA. The intimation of the bank account for the inflow of funds from SRA and the intimation of a separate bank account for receiving the share subscription monies were also discussed. The meeting took note of the pending 1As by and/or against the CD/RP and the amount to be kept aside as a corpus fund for future litigations and the manner for the same. The Monitoring Agent was permitted to file relevant forms with ROC, and the fees of the Monitoring Agent and the legal consultant for the monitoring committee were discussed and approved.
