Annual Report for the Financial Year 2022-23
Awaiting price reaction for this filing.
RCI Industries & Technologies Limited (Scrip Code: 537254) has filed its Annual Report for FY 2022-23 along with the Notice of its 32nd Annual General Meeting, scheduled for Tuesday, February 10, 2026 at 11:00 AM via video conferencing. The company went through the Corporate Insolvency Resolution Process (CIRP) from November 25, 2022 to October 9, 2025, after which NCLT approved a Resolution Plan submitted by JTL Industries Limited as the Successful Resolution Applicant. New management took control on December 9, 2025, and the Annual Report has been prepared on a 'clean slate' basis using limited documents handed over by the Resolution Professional. Capital restructuring has occurred, including extinguishment of existing promoter holding, reduction of public shareholding to 5%, and issuance of 1,00,00,000 new equity shares of Rs.10 each (totaling Rs. 10 crore) to JTL Industries Limited. AGM business includes adoption of FY 2022-23 financial statements, ratification of statutory auditors M/s R. Bansal & Co. for 5 years (FY 2025-26 to FY 2029-30), and appointment of new directors including Mr. Pranav Singla as Managing Director, Mr. Dhruv Singla as Whole-time Director, and three Independent Directors.
This filing completes a major corporate transition — the company has emerged from insolvency with new promoters (JTL Industries Limited) and a completely reconstituted board. Existing shareholders should note the drastic capital restructuring that extinguishes prior promoter holdings and reduces public shareholding to 5%, which fundamentally changes the shareholder structure. Shareholders holding as on the cut-off date of February 6, 2026 will be eligible to vote at the AGM.