The Corporate Insolvency Resolution Process (CIRP) for Zicom Electronic Security Systems Limited commenced on 29.07.2022. Chirag Shah, the Resolution Professional (RP), filed an application seeking approval of the Resolution Plan submitted by M/s Advaita Trading Private Limited. Previously, the National Company Law Tribunal (NCLT) had remitted the plan back to the Committee of Creditors (CoC) on 03.06.2025 for reconsideration of valuation, feasibility, and viability aspects. Following this, the erstwhile RP was replaced by Chirag Shah, and the CIRP period was extended multiple times. The CoC subsequently reconsidered the plan, including obtaining a third valuer's report and addressing the NCLT's observations.

The Corporate Insolvency Resolution Process (CIRP) for Zicom Electronic Security Systems Limited commenced on 29.07.2022. Chirag Shah, the Resolution Professional (RP), filed an application seeking approval of the Resolution Plan submitted by M/s Advaita Trading Private Limited. Previously, the National Company Law Tribunal (NCLT) had remitted the plan back to the Committee of Creditors (CoC) on 03.06.2025 for reconsideration of valuation, feasibility, and viability aspects. Following this, the erstwhile RP was replaced by Chirag Shah, and the CIRP period was extended multiple times. The CoC subsequently reconsidered the plan, including obtaining a third valuer's report and addressing the NCLT's observations.