Punj Lloyd - Corporate Insolvency Resolution Process
20/08/2019 16:08
Punj Lloyd Limited has informed the Exchange about Disclosure under Regulation 30(2) read with Schedule III of Securities and Exchange Board of India (Listing Obligations & Disclosure Requirements) Regulations, 2015 ?? Post ?? facto Outcome of the Fifth Meeting of Committee of Creditors of Punj Lloyd LimitedDear Sir/Madam,Pursuant to Regulation 30 (2) of Securities and Exchange Board Of India (Listing Obligations & Disclosure Requirements) Regulations, 2015 (LODR) and in accordance with the requirements of Sub Clause 16 (g) of Clause A of Part A of Schedule III of SEBI (LODR), we wish to inform you regarding the major outcome of Fifth Meeting of Committee of Creditors (COC) of Punj Lloyd Limited (Company) held on July 29, 2019 in terms of Regulation 19 of Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016.The COC after the conclusion of the voting period resolved:1. In terms of Sub Section 2 of Section 12 of the Insolvency and Bankruptcy Code, 2016 (IBC), to accept the proposal of the Resolution Professional to file an application with the Adjudication Authority for extending the period of Corporate Insolvency Resolution Process (CIRP) by 90 days beyond the period of 180 days, specified in terms of Sub Section 1 of Section 12 of IBC.2. To appoint Dun and Bradstreet as the technical auditor in the Company for reviewing the projects undertaken by the Company.You are requested to take the same on record.