Quadrant Televentures Limited, currently under Corporate Insolvency Resolution Process (CIRP), has had its Committee of Creditors (CoC) approve the appointment of legal counsel. This appointment is to represent the Resolution Professional in an interlocutory application filed by DOT, along with the associated professional fees. The resolution received overwhelming approval from the CoC members.
CoC Approves Key Legal Appointment
The Committee of Creditors (CoC) of Quadrant Televentures Limited has officially approved the appointment of legal counsel. This decision was made during the 17th meeting of the CoC, which was convened on October 17, 2026. The e-voting process for this resolution concluded successfully, indicating strong consensus among the creditors.
Scope of Legal Representation
The appointed legal counsel will represent the Resolution Professional in a significant interlocutory application filed by the Department of Telecommunications (DOT). Furthermore, the CoC has approved the professional fees associated with this legal engagement. This approval is crucial for navigating the ongoing legal aspects of the Corporate Insolvency Resolution Process (CIRP).
Voting Results
The resolution concerning the appointment of legal counsel and professional fees achieved a significant majority. With 95.6% of the voting share approving the resolution, it comfortably surpassed the required threshold of 51%. This strong endorsement highlights the CoC’s commitment to addressing critical legal matters during the CIRP.
Source: BSE
