Share cancellation and re-allotment under NCLT Resolution Plan

Blue Blends board approved implementation of NCLT-approved Resolution Plan. All 1.15 crore promoter shares cancelled without payment. All 1.01 crore public shares cancelled; public shareholders get only 2.7 lakh new shares in ratio of 4 for every 150 held (about 97 percent loss). 50 lakh fresh shares allotted preferentially at Rs 10 to Neolite Polymer Industries (49.9 lakh) and Amit Shah (10,000).