Dhruv Wellness CIRP: CoC Extends Process to Nov 2025

What happened in Dhruv Wellness’ latest CoC meetings

Dhruv Wellness Limited is undergoing a Corporate Insolvency Resolution Process (CIRP) following an order by the Honorable NCLT, Mumbai Bench, dated 18 February 2025, with the order received on 10 March 2025. The company’s Committee of Creditors (CoC) has since been meeting to review claims, approve process-related costs, and progress toward inviting and evaluating resolution plans.

The latest disclosures around the CoC process indicate multiple milestones across July and August 2025, including publication of the Expression of Interest (EOI) invitation, approvals of key resolution plan documents, and a subsequent extension of the CIRP timeline. These steps matter because CIRP is time-bound, and creditors typically need additional time when there are multiple prospective resolution applicants and ongoing claim verification.

CIRP admission and the default amount cited

The insolvency process was initiated in respect of Dhruv Wellness Limited under the NCLT order dated 18 February 2025. The information available also cites a debt default of Rs. 4,08,81,916 as of 28 March 2024, which is about INR 4.09 crore.

This default figure is part of the context explaining why the matter moved to CIRP. The disclosures also reference the NCLT Mumbai Bench case number C.P. (IB) 286/MB/2024. While the documents focus on procedural updates, the default amount and admission order establish the legal starting point and the applicable timeline.

Key dates: CoC meetings and voting minutes

The minutes and related updates cite several CoC meetings during the process. The 1st CoC meeting is referenced as having been held on 9 April 2025. The 3rd CoC meeting took place on Tuesday, 29 July 2025 at 3:00 PM via video conferencing, with “minutes after voting” also referenced for the same date and time.

A 4th CoC meeting is cited as having been held on Wednesday, 13 August 2025 at 5:00 PM via virtual video conferencing mode, followed by minutes after voting at 6:30 PM. These timings matter because formal voting results determine whether specific resolutions, such as cost approvals or document approvals, have creditor consent.

Form G and EOI publication: where and when it was published

The Resolution Professional (RP), Mr. Ashok Mittal, published Form G, the Invitation for Expression of Interest, on 1 July 2025. The publication was carried in two newspapers in Mumbai: Free Press Journal (English edition) and Navakal (Marathi edition).

The last date for receipt of EOIs was set as 16 July 2025. The process disclosures also mention a CIRP update dated 20 August stating that Dhruv Wellness invited EOI under CIRP with the same EOI deadline, and that resolution plans are due by 15 September 2025. Together, these dates mark the shift from process setup to inviting proposals and moving toward plan submission.

3rd CoC meeting: claims, EOIs, and process actions

The minutes described for the third CoC meeting held on 29 July 2025 include approval of previous meeting minutes, ratification of CIRP costs, and updates on claims and EOIs received from prospective resolution applicants. The meeting confirmed quorum and covered a range of agenda items, including withdrawal of a contempt application and the categorisation of claims from MAS Financial and CDSL.

The RP also informed members about the need to file for an extension of the CIRP period and discussed financial transactions related to the CIRP account. Separately, a summary item dated 20 August noted that the 29 July CoC meeting discussed 28 EOIs and EMDs of Rs 23.3 million, which is about INR 2.33 crore. The same summary also referenced discussion around seeking a six-month CIRP extension, as well as claims and auditor appointments.

4th CoC meeting: approvals and updated claims

In the context of the 4th CoC meeting held on 13 August 2025, updates dated 20 August stated that the CoC approved the Information Memorandum (IM) and RFRP, finalised the list of prospective resolution applicants (PRAs), recorded new claims of Rs 11.88 million (about INR 1.19 crore), and planned to seek a 90-day CIRP extension.

In the detailed meeting materials, the RP noted that he would share the draft Information Memorandum (IM), Request for Resolution Plan (RFRP), and Evaluation Matrix for approval, subject to receipt of confidentiality undertakings (NDAs) from CoC members. The record states all CoC members submitted the confidentiality undertaking via mail, except Dhani Loans and Services Ltd.

Resolutions passed: CIRP costs and IM/RFRP approval

The documents record a resolution to ratify and approve CIRP costs incurred by the RP. The stated expenses include RP fees for April to June 2025 of Rs 3,54,000, e-voting expense of Rs 2,950, and Form G publication expense of Rs 17,089, totaling Rs 3,74,039, which is about INR 0.04 crore.

A separate resolution recorded approval of the Information Memorandum and the RFRP prepared by the Resolution Professional. These approvals are operationally significant because the IM and RFRP are core documents used to invite and evaluate resolution plans, and the Evaluation Matrix sets out the framework used for scoring or assessing submissions.

CIRP extension and funds placed in FDR

A CIRP outcome update dated 22 August stated that the CIRP was extended by 90 days to 15 November 2025. The same update also stated that the final PRA list was issued and that an FDR of INR 2.70 crore was placed.

This combination of steps suggests the process moved from EOI collection toward a narrowed set of potential applicants, while also managing funds within the CIRP framework. The confirmed date for the extended timeline provides the next clear checkpoint for stakeholders tracking the resolution process.

Company profile context: business, listing metrics, and footprint

Dhruv Wellness Limited is described as an active public limited company incorporated on 27 March 2015 in Mumbai, Maharashtra. The company’s business is described as trading and distributorship of pharmaceutical and cosmetic products, mainly sold to retailers and wholesalers in the western suburbs of Mumbai and outskirts, along with manufacturing of ayurvedic medicines under its own brand.

The disclosures also list product examples such as Kesho Grow Hair Oil, Adulsa Cough Syrup, Raktvardhani Syrup, Musli Vita, and Orth-O-Cure Oil. A market snapshot included in the materials mentions a market capitalisation of INR 5.07 crore, current price of INR 4.81, and a 52-week high/low of INR 14.0 / INR 4.81.

Key numbers and timeline at a glance

Why these steps matter for investors and creditors

For creditors, the approval of CIRP costs and the IM/RFRP package indicates that the process has moved beyond initiation and into the resolution-plan phase. The publication of Form G, the receipt of EOIs, and the finalisation of the PRA list are all standard gates that help determine whether the process attracts enough viable interest to proceed competitively.

For public market observers tracking the stock and the company’s status, the extension to 15 November 2025 is a concrete update on timelines. It also signals that the CoC and RP are continuing the process rather than closing it within the earlier period. The placement of INR 2.70 crore in an FDR and the recorded movements on claims and expenses add to the paper trail of how the CIRP is being administered.

Conclusion: what to watch next

Dhruv Wellness’ CIRP disclosures through late August 2025 show the CoC approving key resolution documents, ratifying costs, and progressing from EOI invitation to issuing a final PRA list. The process has now been extended by 90 days up to 15 November 2025.

The next confirmed milestone on the calendar is the resolution plan submission deadline of 15 September 2025, followed by CoC consideration steps within the extended CIRP window. Stakeholders will likely watch for further CoC outcomes, plan evaluation progress, and any additional filings related to the extended timeline.