Cerebra Integrated CIRP Vote: 99.61% Back IBC Move in 2026

Key development at Cerebra Integrated Technologies

Cerebra Integrated Technologies Limited has moved closer to a formal insolvency resolution process after shareholders approved the initiation of the Corporate Insolvency Resolution Process (CIRP) under Section 10 of the Insolvency and Bankruptcy Code (IBC), 2016. The approval came through a Special Resolution at an Extraordinary General Meeting (EGM) held on June 6, 2026. The meeting was conducted via video conferencing and other audio-visual means. The resolution authorises the board to take steps required to initiate CIRP, including the appointment of an Interim Resolution Professional (IRP) and the engagement of legal counsel. The company has indicated that it plans to file the CIRP application before the Bengaluru Bench of the National Company Law Tribunal (NCLT).

What shareholders voted on

The business item placed before shareholders was clearly framed as the “Initiation of CIRP under Section 10 of IBC, 2016,” and it was classified as a Special Resolution. Under the listing framework, the company must also complete procedural steps by filing detailed voting results with the stock exchanges. Cerebra has stated it would submit the voting results to BSE and NSE within two working days of the EGM, in line with Regulation 44(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company also said the outcome would be published on its website and on the CDSL platform. It had indicated that e-voting results would be declared on or before June 9, 2026.

Voting outcome: 99.61% of valid votes in favour

The Special Resolution received 99.61% of valid votes in favour, as disclosed by the company. Promoter and Promoter Group votes were reported at 100% in favour, while Public-Non Institutions voted 99.6% in favour. A total of 54 members cast their votes. In share terms, 22,757,879 shares were voted in favour and 88,713 shares were voted against. The result provided the requisite majority for the company to proceed with its next statutory and regulatory steps.

Timeline of board decision, record date, and e-voting

The CIRP proposal followed a board decision taken earlier in May. Cerebra’s board approved initiating CIRP under Section 10 of the IBC at a meeting held on May 11, 2026. The company then fixed May 29, 2026 as the record date to determine shareholder eligibility for the EGM. Remote e-voting was opened from June 2, 2026 (9:00 A.M. IST) to June 5, 2026 (5:00 P.M. IST). The EGM itself was held on June 6, 2026, and the meeting duration was disclosed as approximately eight minutes (11:30 A.M. to 11:38 A.M. IST).

What the EGM approval authorises the board to do

With the Special Resolution approved, the board is authorised to proceed with actions linked to filing and processing the CIRP application. These include appointing an Interim Resolution Professional and engaging legal counsel. The approval also supports making necessary regulatory disclosures as the process advances. In its disclosures, the company said the final voting results would determine the immediate path forward for formally entering CIRP, while also noting that detailed exchange filings remain a procedural requirement even after the resolution is approved at the meeting.

Who will represent Cerebra before NCLT Bengaluru

Cerebra has identified the Bengaluru Bench of the NCLT as the forum where it plans to file the application to commence CIRP. As per the company’s disclosures, Mr. Ranganathan Venkatraman (Chairman and Managing Director) and Mr. Vishwamurthy Phalanetra (Whole Time Director and CFO) have been authorised to represent the company before the NCLT. This representation is part of the steps required to initiate CIRP under Section 10, which allows a corporate applicant to seek admission into the insolvency resolution process.

Financial context disclosed by the company

The company’s move toward CIRP comes amid reported financial stress. Cerebra disclosed a widened net loss of ₹716.42 crore for the financial year ended March 31, 2026, compared with a loss of ₹473.17 crore in the previous year. Revenue for FY26 was reported at ₹59.54 crore. Separately, the company also referenced outstanding debt of approximately ₹90 crore in the context of defaults to financial and operational creditors.

Stock price around the filings

Around the time of these updates, the stock was trading in the low single digits. The information provided included a share price of ₹3.6, up ₹0.16 (4.65%), and also referenced ₹3.58, up ₹0.14 (4.07%). Both data points were tagged to June 9, 2026, with a “last updated” time of 11:25 IST in one instance. These prices provide context on where the stock was trading as the company progressed through the shareholder approval and disclosure steps.

Immediate next steps: exchange filing and NCLT admission process

The company’s immediate next step is to submit the EGM voting results to the exchanges within the stated timeline. Cerebra has indicated that results would be declared on or before June 9, 2026, and published on its website and the CDSL platform. After the exchange filing, the key milestone is the filing of an application before the NCLT Bengaluru Bench. Admission by NCLT is central to the formal commencement of CIRP, after which the IRP appointment and creditor claim processes typically follow under the IBC framework.

Summary table of key facts

Why this matters for shareholders and creditors

A shareholder-approved Section 10 filing signals that the company is preparing for a court-supervised insolvency resolution process rather than informal restructuring. For shareholders, the process typically shifts focus from growth and earnings to regulatory steps, disclosures, and resolution outcomes under the IBC framework. For creditors, the NCLT admission is the point at which claims, verification, and the formal resolution mechanism become central. For the company, the near-term market focus is likely to remain on procedural compliance, the NCLT filing, and the subsequent steps that follow admission.

Conclusion

Cerebra Integrated Technologies has secured shareholder approval to initiate CIRP under IBC Section 10, with 99.61% of valid votes supporting the Special Resolution at the June 6, 2026 EGM. The company has stated it will file detailed voting results with BSE and NSE under SEBI LODR requirements and publish them on its website and on the CDSL platform. The next decisive procedural step is filing the CIRP application before the NCLT Bengaluru Bench, which would set the stage for formal commencement of the insolvency resolution process.