TV Vision CIRP: CoC formed, first meeting set in 2026

Insolvency process enters the CoC phase

TV Vision Limited, the free-to-air television broadcaster behind channels such as Mastiii, Maiboli and Dabangg, is now progressing through the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code (IBC), 2016. The company disclosed that a Committee of Creditors (CoC) was formed on August 22, 2026, and its first meeting was scheduled for Monday, August 31, 2026, at 12:30 p.m. These updates were shared with stock exchanges under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The exchange flow also includes a “List of Creditors” disclosure as part of the CIRP-related filings.

What triggered the CIRP, as stated

The insolvency petition was admitted by the National Company Law Tribunal (NCLT), Mumbai bench, on an application filed by Punjab National Bank (PNB) under Section 7 of the IBC. The material states that the lender cited an alleged financial default of ₹294.65 crore. Following admission, a moratorium under Section 14 of the IBC came into force, restricting legal proceedings against the company and limiting actions such as transferring or disposing of assets during the process. The order also suspended the powers of TV Vision’s board of directors, shifting control of management to the Interim Resolution Professional (IRP) to run the company as a going concern.

IRP and creditor participation mechanics

TV Vision’s disclosures state that Shri Alok Kumar Murarka was appointed as the Interim Resolution Professional. The tribunal also directed PNB to deposit ₹3 lakh towards initial CIRP expenses, as mentioned in the material. Creditors were asked to submit claims by August 13, 2026, along with supporting documents. A separate timeline reference in the disclosures notes the standard 180-day CIRP period and indicates an “indicative” end date of January 26, 2027 based on the July 30, 2026 commencement date. The same material also highlights that the IBC allows a one-time extension of 90 days and sets a maximum mandatory completion timeline of 330 days including litigation.

CoC formation and meeting details

The company communicated that the CoC was formed on August 22, 2026. The first CoC meeting was scheduled at a Mumbai venue stated in the filing: 7th Floor, Adhikari Chambers, Oberoi Complex, New Link Road, Mumbai, Maharashtra 400053 (Tel: 022-40230000). Another exchange update later stated that the first CoC meeting was duly convened on August 31, 2026 in accordance with Section 24 of the IBC. The meeting considered “various matters pertaining to the CIRP,” with resolutions moved to electronic voting.

E-voting window and what was put to vote

As per the disclosure, e-voting on CoC resolutions commenced on September 3, 2026, and concluded on September 17, 2026. The company described the mechanism as an electronic voting process for decisions taken up in the meeting. Separately, a CoC meeting outcome note stated that the CoC approved the IRP remuneration at ₹2,00,000 per month, ratified CIRP costs, and approved continuation of operations as a going concern. The same note added that payment of employee wages was approved to be treated as CIRP cost. Another filing dated September 18, 2026 stated that the CoC approved the appointment of Mr. Alok Kumar Murarka as Resolution Professional for the remaining period of the CIRP.

Claims landscape and admitted amounts

TV Vision’s CIRP is taking place amid sizeable creditor claims. The material states that admitted claims stood at ₹383.71 crore, led by Punjab National Bank. This figure is presented alongside the earlier stated alleged default amount of ₹294.65 crore in the Section 7 admission context. The disclosures also describe the situation as a “complex landscape of creditor claims,” reflecting the multi-party nature of the process.

Trading window closure and financial results context

Apart from CIRP updates, TV Vision also informed exchanges that the trading window for dealing in the company’s shares will be closed for insiders, designated persons and connected persons from October 1, 2026. The closure will remain in force until 48 hours after declaration of unaudited financial results for the quarter and half year ended September 30, 2026. In an earlier corporate update, the company said a meeting of its Interim Resolution Professional was rescheduled to August 18, 2026 to consider and approve unaudited standalone and consolidated financial results for the quarter ended June 30, 2026, after a postponement from August 14, 2026. It also referenced a prior trading window closure from July 1, 2026 until 48 hours after results declaration.

Market snapshots cited in the material

The filings and accompanying market data snippets cite multiple price and market-cap snapshots at different times. One line states the share price as ₹2.91 as on September 23, 2026, with market capitalisation of ₹10.77 crore as of that date. Another snapshot states “current price” ₹3.20 at 11:35 a.m. on September 25, with market cap shown as ₹12.41 crore. A separate line says the stock is “currently trading at 2.73 per share,” and another table lists a “stock price (stated)” of ₹5.07 with “market capitalisation (stated)” of ₹19.64 (units not specified in that snippet). The provided material also states the company’s P/E ratio as -0.31.

Why the CoC stage matters for investors

The formation of a CoC and the start of e-voting indicate that the CIRP has moved from admission and claim collation towards structured creditor decision-making. Under the IBC framework referenced in the disclosures, the moratorium and the shift of management control to the resolution professional are central features that investors track because they govern how operations, claims and potential resolution plans are handled. The trading window closure for insiders, tied to the September 30, 2026 financial results, is another compliance marker, even as the company remains under the insolvency framework.

Conclusion

TV Vision’s exchange filings show a clear sequence: CIRP admission by NCLT on a Section 7 application by PNB, formation of the Committee of Creditors on August 22, 2026, and the first CoC meeting convened on August 31, 2026 with e-voting running from September 3 to September 17, 2026. The disclosures also record CoC decisions on IRP remuneration, CIRP costs, and continuation of operations as a going concern. Next, markets will watch for further CoC updates and the unaudited results-related disclosures after the trading window closure beginning October 1, 2026.