Quadrant Televentures Limited, currently undergoing Corporate Insolvency Resolution Process (CIRP), has announced the outcome of its Twelfth (12th) Committee of Creditors (CoC) meeting. The CoC reviewed and approved resolution plans, with one specific plan now slated for submission to the Hon’ble NCLT for final approval. Several other key proposals, including tie-breaker formulas and CIRP cost budgets, also received approval from the committee.
Quadrant Televentures CoC Meeting Outcomes
Quadrant Televentures Limited (under CIRP) has informed stakeholders about the resolutions passed during its Twelfth (12th) meeting of the Committee of Creditors (CoC), which convened on July 7, 2026. The meeting’s proceedings, including e-voting, concluded with significant decisions regarding the company’s revival under the Corporate Insolvency Resolution Process (CIRP).
Resolution Plan Approval and NCLT Submission
A primary resolution, Item No. 1, focused on considering and approving resolution plans. The CoC approved one of the resolution plans submitted, while rejecting others. This approved plan will now be submitted to the Hon’ble National Company Law Tribunal (NCLT) for final approval. The required voting percentage for this item was 66%, and it received a substantial 100% approval from the CoC members.
Other Key Approvals
In addition to the main resolution plan, the CoC also approved several other critical items:
- Item No. 2: Approval of the formula in case of a tie-breaker (81.59% approved vs. 51% required).
- Item No. 3: Ratification for the extension of the last date for submission of resolution plans (81.59% approved vs. 51% required).
- Item No. 4: Approval of the revision in PLI for the Resolution Professional (RP) (65.93% approved vs. 51% required).
- Item No. 5: Approval of related party transactions (79.70% approved vs. 66% required).
- Item No. 6: Approval of the CIRP cost (81.59% approved vs. 51% required).
- Item No. 7: Approval of the budget for CIRP cost (81.59% approved vs. 51% required).
- Item No. 8: Approval of the Resolution Professional as a member of the Monitoring Committee for the implementation of the resolution plan (95.36% approved vs. 51% required).
These approvals indicate substantial progress in the CIRP of Quadrant Televentures Limited, moving closer to a resolution for the corporate debtor.
Source: BSE
