This disclosure informs BSE Limited about the applicability of corporate governance reporting requirements following the company's exit from Corporate Insolvency Resolution Process (CIRP) and subsequent equity share allotments.
Insolvency Proceedings Background
- The Corporate Insolvency Resolution Process (CIRP) was initiated against Bloom Dekor Limited following an application filed by Karan Monomers Pvt. Ltd under Section 9 of the Insolvency and Bankruptcy Code, 2016.
- The National Company Law Tribunal (NCLT), Ahmedabad Bench admitted the application and ordered commencement of CIRP vide order dated October 11, 2023.
- Ms. Vineeta Maheshwari was appointed as Interim Resolution Professional (IRP) on October 11, 2023, and was subsequently confirmed as Resolution Professional (RP) in the first meeting of the Committee of Creditors (COC).
- The powers of the Board of Directors were suspended and vested with the Resolution Professional pursuant to the admission order.
Exit from Insolvency
- The NCLT, Ahmedabad Bench approved the Resolution Plan submitted by Dr. Sunil Gupta, Mr. Karan Singh Wilkhoo and persons acting in concert (Successful Resolution Applicant/SRA) vide order pronounced on June 18, 2026 in IA (Plan) 8 (AHM) of 2026 in CP IB 127 (AHM) of 2020.
- The approval was granted under Section 31(1) of the Insolvency and Bankruptcy Code, 2016.
- Accordingly, the company exited the Corporate Insolvency Resolution Process effective June 18, 2026.
Implementation of Resolution Plan - Corporate Actions
As part of implementing the approved resolution plan, the following corporate actions were undertaken:
Equity Share Allotments:
1. Allotment to New Promoter (Funding Component): 3,000,000 equity shares of ₹10.00 each allotted to Mr. Karan Singh Surjit Singh Wilkhoo (New Promoter and Successful Resolution Applicant) towards funding the Resolution Plan.
2. Debt-to-Equity Conversion: 8,137,774 equity shares of ₹10.00 each allotted to Mr. Karan Singh Surjit Singh Wilkhoo (New Promoter and Successful Resolution Applicant) by way of conversion of Assigned Debt to Equity.
3. Allotment to Strategic Investors: 4,000,000 equity shares of ₹10.00 each allotted to Strategic Investors (Public Category) being persons other than Promoter and Promoter Group.
Total Equity Allotment: 15,137,774 equity shares of ₹10.00 each
Pending Approvals
- Applications for capital reduction and post-allotment listing approvals are pending with the Stock Exchanges.
- Necessary corporate actions with NSDL and CDSL will be undertaken upon receipt of these approvals.
Corporate Governance Compliance Impact
- Due to the equity share allotments, the company's paid-up equity share capital increased beyond ₹10 crore.
- Consequently, corporate governance provisions as specified in Regulations 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27 and clauses (b) to (i) of sub-regulation (2) of Regulation 46 and para C, D and E of Schedule V of SEBI LODR Regulations became applicable with effect from August 7, 2026 (date of allotment).
Current Filing
- The company has filed the Integrated Corporate Governance Report as required under Regulation 27(2) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 for the quarter ended September 30, 2026.
- This filing corrects the earlier intimation dated October 7, 2026, regarding non-applicability of Regulation 27(2).