PAE Limited, a company listed on BSE Limited, has traversed a significant transformational journey marked by resilience, responsible resolution, and renewed purpose. Established as a recognized name in its industry, the Company encountered financial and operational challenges over time, leading to stress on its business and capital structure.

In light of these circumstances, Corporate Insolvency Resolution Process (CIRP) was initiated under the provisions of the Insolvency and Bankruptcy Code, 2016 (IBC). The Hon’ble National Company Law Tribunal (NCLT) admitted the application for CIRP.

During the CIRP period, the resolution process was conducted in a transparent and compliant manner under the supervision of the Committee of Creditors (CoC). After due evaluation of various proposals, the Resolution Plan submitted by Mr. Jatinbhai Ramanbhai Patel emerged as the most viable and sustainable plan for revival. The said Resolution Plan was unanimously approved by the CoC with 100% voting share through e-voting, reflecting strong creditor confidence in the proposed turnaround strategy and long-term vision for the Company and after following a structured and time-bound resolution process aimed at preserving the value of the Company and protecting stakeholder interests passed an Order approving the Resolution Plan dated 27th November, 2024 which was submitted by Mr. Jatinbhai Ramanbhai Patel.