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Fedders Electric and Engineering informs about outcome of CoC meeting

03 Dec 2019 Evaluate

Fedders Electric and Engineering has informed that the 4th Meeting of the Committee of Creditors (CoC) of the company was held on Tuesday, 26th November, 2019 at 03:00 PM at State Bank of India, 12th Floor, Stress Asset Management Branch - 1, Jawahar Vyapar Bhawan, STC Building, 1, Tolstoy Marg, Janpath, New Delhi - 110001, and the CoC discussed and approved the following items which were put up for voting by the Members of CoC: Approval to Revise the Invitation of Expression of Interest sought from Prospective Resolution Applicants (PRA's) and various actions to be initiated therein- Approved with 99.63% Votes;  Approval of 'Evaluation Matrix' as per Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulation, 2016 (Evaluation Matrix for Corporate Debtor as a whole and Evaluation Matrix for AC/HVAC Business either separately or in combination with other business)- Approved with 99.33% Votes; Approval of 'Evaluation Matrix' as per Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulation, 2016 (Evaluation Matrix for Slump Sale of; Steel Structuring & Fabrication Division;  Power Projects Division; Overhead Electric Line Division; and Wind Mill Tower Division; of the Corporate Debtor either separately or in combination -Approved with 99.33% Votes.

The above information is a part of company’s filings submitted to BSE.


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