Summary of Key Information:
Acquirer / Seller / Promoter: Roger Bravo Secured Development Fund, managed by Roger Bravo Alternative Investment Fund (SEBI Regn. No. IN/AIF2/21-22/0878)
Target Company: ARSS Infrastructure Projects Limited
Stock Exchange Listings:
NSE Scrip Code: ARSSINFRA
BSE Scrip Code: 533163
Nature of Transaction / Event: Withdrawal of nominee status for equity shares allotted under NCLT-approved resolution plan
Date of Transaction: 06/10/2026 (date of withdrawal letter)
Number of Shares Affected: 7,35,00,000 equity shares
% of Total Shareholding / Voting Capital Affected: 81.55%
Mode of Transaction / Action: Nominee withdrawal and no-objection for substitution
Consideration: Not disclosed
Shareholding / Promoter Snapshot (Before & After):
The substitution will change the nominee of the shares from Roger Bravo to Ocean Capital Market Limited or its affiliates/nominee/assigns/AIF/SPV. It will not change the total share capital of the Company.
Other Noteworthy Information:
- The shares were allotted pursuant to the Resolution Plan approved by the Hon'ble National Company Law Tribunal, Cuttack Bench vide order dated 29 August 2025 in IA(IB) No. 283/CB/2023 in CP(IB) No. 34/CB/2021
- The application for listing of the Plan Shares is pending with the Exchange
- The Plan shares have not yet been credited to the allottee's demat account
- Roger Bravo confirms it shall hold the Allotted Equity in trust till receipt of further instructions from the SRA
- Roger Bravo shall not exercise any voting or other shareholder rights until transfer is completed
- The company will consult with the Successful Resolution Applicant (Ocean Capital Market Limited) to take suitable steps for substitution
Analyst Notes:
This disclosure represents a procedural development in the implementation of the NCLT-approved resolution plan. The fundamental ownership structure remains unchanged as Ocean Capital Market Limited remains the ultimate beneficiary through whatever substitute nominee they appoint. The withdrawal appears amicable with Roger Bravo providing full cooperation for the transition process.