Notice of Court Convened Meeting of Secured Creditors of the Company as per directions of Hon'ble NCLT to…
As filed · Asian Granito India Limited has informed the Exchange about General Updates - Notice of Court Convened Meeting of Secured Creditors of the Company as per directions of Hon'ble NCLT to approve Scheme.
What happened
FactAsian Tiles has announced a meeting of its secured creditors, scheduled for September 18, 2025, as directed by the National Company Law Tribunal (NCLT) regarding a Composite Scheme of Arrangement. The company has dispatched the notice of the meeting to all secured creditors, and the notice is also available on its website. The meeting aims to consider and approve the proposed scheme of arrangement.
Why it matters
CapitSignal interpretationOnce an insolvency process is admitted, control of the company passes from the board to a resolution professional and equity ranks last in any recovery.
Watch next
Fact- Admission or rejection of the application by the tribunal
- Appointment of a resolution professional
- Claims admitted against the company
Evidence
How CapitSignal classified this
- Reasoning:
- INSOLVENCY base 93; explicit insolvency/default evidence present; matched on subject
- Matched on:
- the filing's own subject line
- Confidence in the event type:
- 75%