Unitech International Ltd Committee of Creditors Meeting Details Reveal Decisions on Insolvency Resolution Process
The Committee of Creditors (CoC) of Unitech International Limited held its 10th meeting via Video Conferencing on Friday, May 22, 2026, to consider and deliberate upon various resolutions related to the ongoing Corporate Insolvency Resolution Process. The outcomes of the voting sessions covered key operational decisions concerning due diligence appointments, auditor changes, and expenses ratification.The meeting addressed several agenda items pertaining to the future management and financial structure of the company. Resolutions concerning the appointment of specific professional firms for due diligence under section 29A and vetting resolution plans were put to vote but were rejected by the Committee of Creditors. Conversely, a resolution related to Rahul Jindal from IPR Insolvency Professionals Private Limited received approval from the CoC.
The meeting also saw significant decisions regarding existing oversight bodies. The removal of the existing auditor was approved by the Committee of Creditors. Regarding statutory audits, while the appointment of a professional firm for conducting audit of accounts was considered, this resolution was rejected by the CoC. Furthermore, a resolution to ratify and approve expenses incurred by the Resolution Professional (RP) under regulation 34 of IBBI CIRP REGULATION, 2016, was approved by the Committee of Creditors.
The key resolutions deliberated and their resulting outcomes are detailed in the table below:
| Agenda Item | Action Considered | Result of Vote |
|---|---|---|
| Appointment of professional firms for due diligence (DGA IB RESOLUTION LLP Themis and Dike legal advisors LLP) | To consider and approve the appointment of professional firms. | Rejected by Committee of Creditors. |
| Resolution related to Rahul Jindal (IPR Insolvency Professionals Private Limited) | To consider and approve the resolution. | Approved by Committee of Creditors. |
| Removal of existing auditor | To consider, discuss and approve the removal of existing auditor. | Approved by the Committee of Creditors. |
| Appointment of statutory auditor for conducting audit of accounts | To consider and approve appointment of statutory auditor. | Rejected by Committee of Creditors. |
| Ratification of RP expenses | To ratify and approve the expenses incurred by the RP. | Approved by the Committee of Creditors. |
Stock Price Movement
After the market closed on Friday, Unitech International Ltd shares settled at ₹3.46, edging higher by 0.87%. The shares experienced movement during the trading session, ranging between a low of ₹3.26 and an intraday high of ₹3.50.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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