C & C Constructions Limited — Important, 16-12-2024: Updates

The 31st meeting of the Stakeholder’s Consultation Committee (SCC) for C&C Constructions Limited, held virtually, focused on proposals from RKC regarding the sale process. RKC suggested making payments through two separate entities and requested the issuance of sale certificates in their names accordingly. However, RKC declined to cover the going concern costs associated with the period between the demand issuance and the full payment of sale consideration, citing legal opinions to support this position. The discussions reflect ongoing complexities in the liquidation process, which could impact the timeline and efficacy of asset sales, necessitating close observation from stakeholders.