Application bearing IA (IBC) (Plan) 4/2025 has been filed by the Resolution Professional was rejected by the Hon''ble NCLT Hyderabad Bench.
Awaiting price reaction for this filing.
The NCLT Hyderabad Bench has rejected the Resolution Plan (IA (IBC) (Plan) 4/2025) filed by the Resolution Professional of Baron Infotech Limited, which proposed a merger with M/s. Ticker Limited and a total revival outlay of around Rs. 30.32 crores. The plan had been approved by the sole financial creditor (Aventine Software Pvt. Ltd.) with 100% voting share, but was challenged by unsuccessful resolution applicants alleging procedural issues in the evaluation process. Several connected intervention petitions and applications have been disposed of. Pursuant to the NCLT order, Dr. V. Ahalada Rao has been appointed as the new Resolution Professional. The company continues to remain under the Corporate Insolvency Resolution Process (CIRP), which was originally admitted in May 2024 against admitted claims of around Rs. 2.46 crores.
This is a negative development for shareholders, as the rejection of the resolution plan prolongs the insolvency process and creates uncertainty around revival or possible liquidation. Existing shareholders face continued dilution risk and no clarity on the company's future business direction. The stock is likely to see heightened volatility on this news.