When a company is under insolvency, nothing moves without the approval of its creditors. Every settlement, every operational decision, every step forward has to go through the Committee of Creditors — the group of financial creditors who collectively decide what happens to the company and its assets.
On October 7, 2026, Compuage Infocom Limited filed a letter with BSE about its 28th COC meeting. The meeting itself was held on September 22, 2026. Two resolutions were put to vote, and both have now been approved. The e-voting window closed at 6:00 PM on October 7, 2026.
Where the Company Stands
Compuage Infocom Limited is under the Corporate Insolvency Resolution Process, or CIRP. The National Company Law Tribunal, Mumbai, admitted the insolvency case by an order dated April 29, 2024. Since then, the company's affairs have been in the hands of the Resolution Professional, Mr. Gajesh Labhchand Jain.
Under CIRP, the day-to-day running of the company continues, but all major decisions require the approval of the Committee of Creditors. The COC is made up of financial creditors — banks and other lenders who are owed money. They vote on resolutions, and the votes are weighted by the amount each creditor is owed.
The 28th meeting of the COC had two items on the agenda. Here is what each one was about.
Item No. 8: The ₹6,33,01,648 Settlement
The first and larger item involves M/s Global Networks. The NCLT Mumbai passed an order on September 3, 2026, directing that a settlement proposal from Global Networks be considered. That proposal was placed before the COC at the 28th meeting, and the creditors have now approved it by e-voting.
The settlement amount is ₹6,33,01,648. Under the terms approved, this amount will be paid by Global Networks as full and final settlement of all outstanding dues. Once paid, no further claims will remain between the two sides on this matter.
To understand the context: during insolvency, the Resolution Professional identifies amounts owed to the company by various parties. When a debtor — someone who owes money to the company under insolvency — proposes to settle, that proposal goes to the COC for approval. Here, Global Networks is the party that owes money, and ₹6,33,01,648 is the amount it has agreed to pay to close the matter.
Item No. 9: A Property Broker for Flat A-502
The second resolution is about a residential property. The COC has approved the engagement of a property broker for the re-letting of Residential Flat No. A-502, Raheja Ridgewood.
During insolvency, assets of the company remain under the control of the Resolution Professional. If the company holds a residential flat that is currently vacant, finding a tenant for it falls under asset management — the RP's job includes making sure assets do not sit idle and generate costs without any return. The COC's approval is needed before the RP can engage a broker for this purpose.
The filing does not give the location of Raheja Ridgewood or any expected rental amount.
The Full Picture
| Item | Details | Result |
|---|---|---|
| COC meeting | 28th meeting, held September 22, 2026 | — |
| E-voting closed | 6:00 PM, October 7, 2026 | — |
| Item No. 8 | Settlement proposal of M/s Global Networks — ₹6,33,01,648 as full and final settlement of outstanding dues, per NCLT Mumbai order dated September 3, 2026 | Approved by e-voting |
| Item No. 9 | Engagement of property broker for re-letting of Residential Flat No. A-502, Raheja Ridgewood | Approved by e-voting |
| CIRP start date | April 29, 2024 (NCLT order) | — |
| Resolution Professional | Mr. Gajesh Labhchand Jain | — |
How the COC Process Works
For readers who are not familiar with how insolvency works in India, here is a brief explanation of the key terms that appear in this filing.
Corporate Insolvency Resolution Process (CIRP)
When a company cannot pay its debts, any financial creditor or the company itself can apply to the NCLT to start the CIRP. Once admitted, an insolvency professional takes over the management of the company. The goal is to find a resolution applicant — usually a buyer or investor — who submits a plan to revive or take over the company and pay off its creditors.
Committee of Creditors (COC)
The COC is formed as soon as CIRP begins. It includes all financial creditors of the company. Every major decision during CIRP — approving a resolution plan, selling an asset, settling a claim — needs a vote of the COC, and most decisions require at least 66% of the votes by value to pass.
Resolution Professional (RP)
The Resolution Professional is an insolvency professional appointed to manage the company during CIRP. The RP takes over from the existing board of directors. The RP convenes COC meetings, collects claims from creditors, manages the company's day-to-day affairs, and runs the process of finding a resolution applicant.
Compuage Infocom has now completed its 28th COC meeting. The resolutions from that meeting have been put to a vote and the outcome is now on record with the stock exchanges.