Zicom Electronic Security Systems Ltd

The Nineteenth Meeting of CoC of the Corporate Debtor was concluded at 5. 00 PM on August 18 2023. Further the following resolutions were put for voting and the same were approved with requisite majority by the CoC:1. Distribution of resolution plan submitted by one of the resolution applicant as non-responsive and subsequent forfeiture of the Earnest Money Deposit submitted by them;2. Declaration of Resolution Plan Proceeds amongst the Financial Creditors/ Members of CoC in the ratio of 40: 60 i.e. 40 % towards secured financial creditors and 60% towards Unsecured Financial Creditors;3. Out of the 3 (three) Compliant Resolution Plan(s) that were put for e-voting one compliant resolution plan has been approved by the CoC with the requisite majority which is subject to approval by the Honble NCLT Mumbai Bench.4. Ratification of cost incurred from April 07 2023 till June 05 2023 related to the Corporate Insolvency Resolution Process.