IMP Powers Limited — Others, 06-11-2024: Corporate Insolvency Resolution Process

IMP Powers Limited has announced updates regarding its liquidation process. The National Company Law Tribunal approved the sale of the company as a going concern to a successful bidder. Significant reliefs include the cancellation of past liabilities and provisions for new equity shares issuance to facilitate company revival. The newly appointed board will manage operations, while existing debts to financial creditors will be settled, ensuring the company's smooth transition and compliance with regulations.