Key Decisions and Approvals
The Board of Directors at its meeting held on July 25, 2026 (commencing at 1:00 PM and concluding at 1:55 PM) approved:
- Implementation of the Resolution Plan approved by the Hon'ble National Company Law Tribunal, Mumbai Bench-I vide its Order dated July 10, 2026 passed under Sections 54K(12), 54L read with Section 31 of the Insolvency and Bankruptcy Code, 2016
- Cancellation and extinguishment of all existing Equity Shares held by the Promoters of the Company, resulting in reduction of existing Equity Share Capital
- Reduction of existing Equity Shares held by Public Shareholders in the ratio of 100:5 (every 100 Equity Shares held shall stand reduced to 5 Equity Shares)
Record Date Details
The Board fixed Wednesday, August 5, 2026 as the Record Date for:
- Determining Promoter shareholders whose Equity Shares shall stand cancelled and extinguished
- Determining entitlement of Public Shareholders for giving effect to the 100:5 share reduction
Implementation Conditions
The corporate actions will be implemented in accordance with the approved Resolution Plan and subject to completion of applicable formalities with:
- Depositories
- Registrar and Share Transfer Agent
- Stock Exchanges
- Other statutory and regulatory authorities