Bloom Dekor Limited has formally withdrawn its application for reclassification of its entire existing Promoter and Promoter Group from "Promoter/Promoter Group" to "Public" shareholders. This decision follows the outcome of a Board meeting dated August 07, 2026.
The need for reclassification arose from a Resolution Plan approved by the Hon'ble National Company Law Tribunal (NCLT), Ahmedabad Bench, under Section 31 of the Insolvency and Bankruptcy Code, 2016 (IBC). The NCLT order was dated June 18, 2026.
The company had previously intimated the Stock Exchange of this NCLT approval on June 19, 2026, under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (SEBI LODR Regulations).
The withdrawal is based on the specific exemption provided under Regulation 31A(9) of the SEBI LODR Regulations. This regulation exempts the standard reclassification procedures (outlined in Regulations 31A(3), 31A(4), and 31A(8)) when the reclassification is pursuant to a resolution plan approved under Section 31 of the IBC.
The company states that, following the implementation of the Resolution Plan, the erstwhile Promoter and Promoter Group no longer exercise control over the company. Consequently, the reclassification is considered effective under the provisions of the NCLT order and Regulation 31A(9), negating the requirement for a formal application process.
The letter requests the Stock Exchange to note the previous disclosure made on June 19, 2026, and consider it in the context of the requirements under Regulation 31A(9)(b).