Techindia Nirman Limited — Others, 21-06-2025: Corporate Insolvency Resolution Process

Techindia Nirman Limited’s Committee of Creditors (CoC) reviewed and approved the highest-scoring resolution plan from five proposals, rejecting liquidation. The CoC also approved the sale of the company as a going concern, ratified expenses incurred by the Resolution Professional, and approved appointing Advocate Vallabh Sawana as Liquidator if needed. They agreed on liquidation cost contributions, escrow account setup, and explored compromise or arrangement options. These decisions mark significant progress toward resolving the company’s insolvency while protecting creditor interests and preserving business value.