Company Disclosures
Lord's Mark Industries Limited (formerly known as Lords Mark India Limited/Kratos Energy & Infrastructure Limited) submitted an intimation to BSE Limited on June 8, 2026, under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Court Proceedings Details
The petition was filed under Section 9 of the Arbitration and Conciliation Act, 1996, being O.M.P.(I)(COMM.) 241/2026. BCCL sought interim reliefs regarding the conversion of warrants subscribed under the Share Cum Warrant Subscription Agreement dated August 1, 2023, and the proposed listing and commencement of trading of the company's equity shares.
Key Resolution Terms
During court proceedings, Lord's Mark Industries Limited committed to issuing 10,28,483 equity shares to BCCL at a conversion price of ₹158 per share, in accordance with the Share Cum Warrant Subscription Agreement dated August 1, 2023. The company acknowledged BCCL's entitlement to these shares following the warrant conversion notice dated August 26, 2025.
Background Context
The delay in warrant conversion was attributed to the pre-packaged insolvency resolution process of Kratos Energy and Infrastructure Limited (KEIL), which was admitted by NCLT Mumbai on February 1, 2024, in Company Petition (IBPP) No. 03/2023. The NCLT sanctioned the Final Base Resolution Plan on July 28, 2025, approving the merger of Lord's Mark Industries Limited with KEIL, with the resulting company being renamed Lord's Mark Industries Limited.
Listing Approval
Bombay Stock Exchange approved the listing of 25,475 equity shares of ₹10 each allotted pursuant to capital reduction through the approved resolution plan, and 42,65,96,719 equity shares of ₹10 each pursuant to the merger, vide letter dated May 21, 2026.
Implementation Commitments
The company committed to within three days of petition disposal: (1) intimate and provide documents related to the Share Cum Warrant Subscription Agreement to Mr. Amit Chandrashekhar Poddar, Chairman of the Monitoring Committee supervising the Resolution Plan implementation; (2) ensure disclosure of BCCL's rights and entitlements to the Monitoring Committee members; and (3) keep BCCL informed of all steps taken.
Outcome
No adverse order was passed against the company. BCCL withdrew the petition based on the company's commitments, and the court dismissed the petition as withdrawn on June 1, 2026. The petitioner retains the right to initiate appropriate proceedings if the company fails to comply with its commitments.
Financial Impact
The issuance of 10,28,483 equity shares at ₹158 per share represents a transaction value of approximately ₹16.25 crore based on the conversion terms.