Disclosure Context

Sikozy Realtors Ltd (Scrip Code: 524642) submitted a disclosure to BSE Limited on June 19, 2026, under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure pertains to the receipt of an order from the National Company Law Tribunal (NCLT), Mumbai Bench, sanctioning a Scheme of Reduction of Share Capital.

Capital Reduction Details

The Scheme of Reduction, approved by the NCLT under Section 66 of the Companies Act, 2013, involves the following key changes:

  • The paid-up equity share capital of the company is reduced from ₹4,45,83,000 (comprising 4,45,83,000 equity shares of ₹1 each) to ₹44,58,300 (comprising 44,58,300 equity shares of ₹1 each).
  • This is achieved by the cancellation and extinguishment of 4,01,24,700 equity shares on a proportionate basis.
  • The purpose of the reduction is to adjust accumulated losses of the company, which stood at ₹6,03,74,113 as of the relevant date. An amount of ₹4,01,24,700 from these losses will be written off against the paid-up capital.
  • There will be no change in the percentage shareholding of any shareholder as the reduction is proportionate.
  • No consideration is payable to any shareholder for the cancelled shares.

NCLT Process and Approvals

The process for the capital reduction involved several key steps:

  • The Board of Directors approved the reduction via a resolution dated September 27, 2024.
  • An Extra-Ordinary General Meeting (EOGM) of equity shareholders was convened on August 8, 2025. A special resolution was passed with 99.38% of the voted shares (1,63,31,957 shares) in favor and 0.62% (1,02,142 shares) against.
  • A valuation report dated October 9, 2023, by Registered Valuer CA Mohit Sagar determined the fair value of each equity share at ₹0.51.
  • The Regional Director (Western Region, Ministry of Corporate Affairs) submitted a report dated May 11, 2026, noting that tax implications would be subject to Income Tax Authority scrutiny and querying whether RERA approval was required.
  • The company filed a rejoinder on May 25, 2026, stating that no RERA approval was needed as it had no ongoing real estate projects and that the reduction was a mere accounting adjustment that did not affect creditor interests or statutory dues.
  • The company's lender, Meteor Wealth Management Private Limited, provided a No Objection Certificate for the scheme.
  • The NCLT order (C.P. 33 (MB) 2026) was pronounced on June 18, 2026, by Members Shri Prabhat Kumar (Technical) and Shri Sushil Mahadeorao Kochey (Judicial).

Effective Date and Conditions

The Scheme will become effective upon the filing of the certified copy of the NCLT order with the Registrar of Companies (RoC) and the satisfaction of other conditions specified in the order. The company is required to:

  • File the order and certified minutes with the RoC within 30 days of receiving the certified order.
  • Publish a notice of the registration in two newspapers: 'Business Standard' (English) and 'Navshakti' (Marathi) within 30 days of registration with the RoC.

Financial and Capital Structure Impact

  • Pre-reduction capital: ₹4,45,83,000 (4,45,83,000 shares of ₹1 each)
  • Post-reduction capital: ₹44,58,300 (44,58,300 shares of ₹1 each)
  • Reduction amount: ₹4,01,24,700 (4,01,24,700 shares cancelled)
  • Accumulated losses reduced by: ₹4,01,24,700 (from a total of ₹6,03,74,113)
  • The authorised capital remains unchanged at ₹8,00,00,000 (8,00,00,000 shares of ₹1 each).