OIL COUNTRY TUBULAR LTD. - Corporate Insolvency Resolution Process (CIRP)-Updates - Corporate Insolvency Resolution Process (CIRP)

Please be informed that a compromise has been struck between the Promoters of the Corporate Debtor and the Financial Creditors. Consequently, with 100 % voting rights, the Financial Creditors have voted in favour of the withdrawal of CIRP against the CD u/s 12A of the IBC 2016. The Hon'ble NCLT, Hyderabad Bench, has accordingly passed an order for withdrawal of CIRP against the CD, vide orders in IA(IBC)975/2022 in CP(IB) no 220/7/HDB/2019, dated 21.09.2022 (Order was made available on 23.09.2022). With immediate effect of the said order, the RP is relieved from his duties. A copy of the said order is attached herewith for your reference. This is for your information and records.