Summary of Key Information:

Reporting Period: Not Applicable

Nature of Filing / Announcement: Outcome of Board Meeting under SEBI LODR Regulation 30

Audit Opinion:

Not Specified

Key Financial Highlights:

Not Specified

Corporate Actions:

1. Cancellation of Pre-Liquidation Promoter Shareholding:

  • Approved cancellation and extinguishment of 37,20,692 Equity Shares of ₹10 each held by pre-liquidation Promoters and Promoter Group
  • Pursuant to NCLT Mumbai Bench Order dated 03rd June 2025

2. Capital Reduction of Pre-Liquidation Public Shareholding:

  • Approved cancellation and extinguishment of 2,14,90,714 Equity Shares of ₹10 each held by pre-liquidation Public Shareholders
  • Post-cancellation, authorized to issue and allot 5,00,000 new Equity Shares of ₹10 each to eligible existing Public Shareholders
  • Ratio: 1 new Equity Share for every 43 existing Equity Shares held
  • Record date to be determined and communicated later
  • Pursuant to NCLT Mumbai Bench Order dated 03rd June 2025

3. Preferential Allotment to New Promoter:

  • Approved issue and allotment of 95,00,000 new Equity Shares of ₹10 each, fully paid-up
  • Allottee: Pervasive Commodities Limited (nominee of Successful Bidder)
  • Issue price: ₹10 per share
  • Post-allotment, Pervasive Commodities Limited will be considered as Promoter of the Company
  • Pursuant to NCLT Mumbai Bench Order dated 03rd June 2025 and Sale Certificate issued by Liquidator

Capital Structure Changes:

Pre-Reduction Capital Structure:

  • Authorized Share Capital: 3,90,00,000 Equity Shares of ₹10 each (₹39,00,00,000)
  • Issued, Subscribed and Paid-up Capital: 2,52,11,406 Equity Shares of ₹10 each (₹25,21,14,060)

Post-Reduction Capital Structure:

  • Authorized Share Capital: 3,90,00,000 Equity Shares of ₹10 each (₹39,00,00,000)
  • Issued, Subscribed and Paid-up Capital: 1,00,00,000 Equity Shares of ₹10 each (₹10,00,00,000)

Shareholding Pattern Changes:

Pre-Reduction Shareholding:

  • Promoter and Promoter's Group: 37,20,692 shares (14.76%)
  • Public: 2,14,90,714 shares (85.24%)
  • Total: 2,52,11,406 shares (100.00%)

Post-Reduction Shareholding:

  • Promoter and Promoter's Group: 95,00,000 shares (95.00%)
  • Public: 5,00,000 shares (5.00%)
  • Total: 1,00,00,000 shares (100.00%)

Other Significant Information:

  • The post-capital structure and shareholding pattern calculations assume:
  • Reduction of pre-liquidation share capital held by Promoter and Promoter Group
  • Reduction of pre-liquidation share capital held by Public Shareholders
  • Allotment of 5,00,000 Equity Shares to Existing Public Shareholders on pro-rata basis
  • Allotment of 95,00,000 new Equity Shares to Promoter Category Allottees