Monitoring Committee Meeting Scheduled for Omkar Speciality Chemicals Limited
The Monitoring Committee of Omkar Speciality Chemicals Limited has scheduled a meeting for Wednesday, April 15, 2026. The meeting is set to consider and approve several key corporate matters related to the company's restructuring and operational status.The company, Omkar Speciality Chemicals Limited, was admitted into Corporate Insolvency Resolution Process (CIRP) via an order dated December 5, 2022.
Key Agenda Items
The agenda for the Monitoring Committee meeting includes matters concerning share structure, capital infusion, borrowing facilities, and key management appointments.The Committee is scheduled to consider the following resolutions:
1. Determining the record date for the extinguishment or cancellation of existing equity shares. This pertains to both the entire equity shares of INR 10 each, fully paid up, held by the existing Promoters and the Promoters group, and the entire equity shares of INR 10 each, fully paid up, held by the existing Public Shareholders.
2. Approving the issuance of 50,00,000 equity shares with a face value of INR 10 each, at par, for an aggregate consideration of INR 5,00,00,000 (Indian Rupees Five Crores only). This issuance is planned to be based on an approved Resolution Plan on a Private Placement Basis.
3. Approving borrowing through a loan arrangement that does not carry an option for conversion into any securities, along with the necessary approval for executing the loan agreement.
4. Approving the opening of an equity subscription account.
5. Reviewing the status of Other Statutory and Contractual Compliances.
6. Considering and approving the adjustment and reimbursement of CIRP costs, which includes additional liabilities and the utilization of interest earned on the PBG FDR.
7. Approving the appointment of Mr. Mahendra Kumar Jain (PAN: AYHPJ9945Q) as the Company's Chief Financial Officer (CFO).
8. Approving the appointment of Mr. Kuldeep Menaria (M. No. Acs: 68041) as a whole-time Company Secretary & Compliance Officer for the Company.
9. Discussing the future line of action for the Monitoring Committee.
The company's details are as follows:
| Detail | Information |
|---|---|
| Company Name | Omkar Speciality Chemicals Limited |
| Admission to CIRP | Order dated December 5, 2022 |
| CIN | L24110MH2005PLC151589 |
Ajit Kumar, Chairperson of the Monitoring Committee, confirmed the meeting details.
OMKARCHEM Stock Price Movement
Shares of Omkar Speciality Chemicals Limited are edging higher to ₹4.18 as of 1:53 PM today, up 4.50% in live trading. The stock moved on a day's breath, trading a total of 1,300 shares during the session.Source:
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