Key Dates
- Board Meeting Date: Saturday, July 25, 2026
- NCLT Order Date: July 10, 2026
- Certified Copy Received: July 21, 2026
Regulatory Basis
The meeting is convened pursuant to the Resolution Plan approved by the Hon'ble National Company Law Tribunal, Mumbai Bench-I under Section 54L read with Section 31 of the Insolvency and Bankruptcy Code, 2016.
Agenda Items
1. To take note of the Resolution Plan approved by the NCLT and its implementation
2. To consider and approve implementation of cancellation and extinguishment of existing Equity Shares held by Promoters of the Company, resulting in reduction of existing Equity Share Capital
3. To consider and approve implementation of reduction of existing Equity Shares held by Public Shareholders in the ratio of 100:5
Capital Structure Impact
The Resolution Plan involves:
- Complete cancellation and extinguishment of all existing Equity Shares held by Promoters
- Reduction of existing Equity Shares held by Public Shareholders in the ratio of 100:5 (20:1 reduction)
Record Date Determination
The Board will fix Record Dates for giving effect to both the promoter share cancellation and public shareholder reduction in accordance with Regulation 42 of SEBI LODR Regulations and applicable circulars issued by SEBI and Stock Exchanges.