Nuvoco Vistas Corporation has informed that the Committee of Creditors of Vadraj Cement (undergoing Corporate Insolvency Resolution Process under the Insolvency and Bankruptcy Code 2016) have approved the Resolution Plan submitted by the Company. In this regard, the Company has received a Letter of Intent from the Resolution Professional on January 06, 2025. The transaction will be implemented by Vanya Corporation, a wholly owned subsidiary of the Company. The implementation of the Resolution Plan is subject to the terms of the Letter of Intent and requisite approvals from the National Company Law Tribunal. Detailed press release with respect to the subject matter is enclosed as ‘Annexure- I’. The aforesaid information is also made available on the Company’s website at www.nuvoco.com.
The above information is a part of company’s filings submitted to BSE.
