Vaxtex Cotfab Limited — Others, 24-01-2025: Corporate Insolvency Resolution Process

Vaxtex Cotfab Limited has withdrawn from the Corporate Insolvency Resolution Process (CIRP) following a settlement with its operational creditor, Shree Shyam Avenues Private Limited. The Hon'ble National Company Law Tribunal has recalled its previous CIRP order, allowing the company to resume operations under its existing Board of Directors. The settlement involved an amount of ₹70 crore, fully paid by the suspended management, with 93.89% of the Committee of Creditors approving the withdrawal.

This development may foster a positive outlook among investors, removing uncertainty related to insolvency and reinstating operational stability. The resumed operations could present new growth opportunities for the company.