Cupid Breweries And Distilleries Ltd — Important, 13-10-2025: Company Update

Cupid Breweries and Distilleries Limited, previously identified as the successful bidder for SDF Industries Limited under its insolvency process, faced a setback. The Committee of Creditors cancelled the Letter of Intent because certain conditions in it were inconsistent with Cupid's resolution plan, which was designed to protect creditor and shareholder interests. Efforts to resolve these discrepancies were unsuccessful. As a result, the Earnest Money Deposit of 0.02 Cr has been forfeited. The company states there is no other significant financial impact from this development.