Appointment of Directors after approval of Resolution plan by NCLT
Awaiting price reaction for this filing.
The NCLT Mumbai approved a Resolution Plan for Shivom Investment & Consultancy Ltd on August 18, 2025, ending its Corporate Insolvency Resolution Process (CIRP). Mr. Prashant Ghanshyambhai Ukani, the Successful Resolution Applicant, has been appointed as Promoter Executive Director from August 28, 2025, and will subscribe to 60 lakh fresh equity shares, becoming the new promoter. Mr. Kuldeep Bharatbhai Khachar has also been appointed as Promoter Executive Director from August 30, 2025. As part of the plan, all existing 6.99 crore public equity shares stand cancelled, with existing shareholders getting just 2 shares for every 1,000 held. Unsecured financial creditors will recover only 25.76% (around Rs. 7.07 crore against Rs. 27.47 crore admitted), while operational creditors get just 1.84% of their admitted claims.
Existing public shareholders face near-total equity wipeout, retaining only 0.2% of their previous holdings, while the company's control shifts entirely to the new resolution applicant. The stock is likely to see extreme volatility and a significant repricing once the new share structure takes effect, with the new promoter gaining majority control.