Arshiya Limited has informed the Exchange about General Updates
ARSHIYA · price
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Arshiya Limited, which is itself under the Corporate Insolvency Resolution Process (CIRP), announced that the NCLT Mumbai Bench-II has granted final approval to the Resolution Plan for its wholly owned subsidiary NCR Rail Infrastructure Limited (formerly Arshiya RAIL Infrastructure Private Limited) under Section 31 of the Insolvency and Bankruptcy Code, 2016. The plan was submitted by JSW Infrastructure Limited as the successful resolution applicant, and its implementation is currently underway. The subsidiary had contributed 100% of the company's revenue (Rs. 1,009.56 lakhs) but had a deeply negative net worth of Rs. (2,14,273.05) lakhs. JSW Infrastructure is not related to Arshiya's erstwhile promoters or group companies, and the transaction is not a related-party deal.
This is a positive development as it brings the subsidiary out of insolvency under a strong, credible acquirer (JSW Infrastructure), which could help reduce Arshiya's consolidated debt burden and provide clarity on asset value realization. However, Arshiya Limited's own CIRP is still ongoing, and shareholders remain at risk of dilution or poor recovery until the parent company's resolution is finalized.