Agreement in the Nature of Inter Corporate Deposit
Awaiting price reaction for this filing.
C & C Constructions' Board has approved borrowing ₹50 crore as a secured Inter-Corporate Deposit (ICD) from Ceigall India Limited to support the company's revival plan. The funds will be used to repay an existing ₹50 crore ICD earlier taken from Ceigall Infra Projects Private Limited (a wholly-owned subsidiary of Ceigall India Limited). Once the NCLT approves the ongoing application filed by R.K. Constructions, Ceigall India Limited is expected to become the holding company, initially holding up to 94% of C&C's shareholding, later reduced to 75% as per SEBI and IBC rules. The company has reaffirmed its focus on the core Energy EPC business, particularly Transmission & Distribution.
This is a major restructuring event — existing shareholders of C&C Constructions will face significant dilution (up to 94%) as Ceigall India Limited takes control via the NCLT-approved revival plan. While the ₹50 crore brings in much-needed funds, the change in ownership and reliance on NCLT approval introduces uncertainty for retail investors.