ARSS Infrastructure Projects Limited has informed the Exchange about Corporate Insolvency Resolution Process
Awaiting price reaction for this filing.
ARSS Infrastructure Projects Limited, currently under Corporate Insolvency Resolution Process (CIRP), has informed exchanges that the National Company Law Tribunal (Cuttack Bench) has orally approved the resolution plan submitted by Ocean Capital Market Limited (OCML) under Section 31 of the Insolvency and Bankruptcy Code, 2016. The pronouncement was made on August 29, 2025, though the formal written order is yet to be uploaded on the NCLT portal. The company will share an updated disclosure within 24 hours of the written order being made available. The resolution marks a key milestone in moving the company out of the insolvency process.
Approval of the resolution plan is a major positive step that could end the insolvency proceedings, with OCML likely taking control of the company. However, existing shareholders should note that under IBC, their equity value is typically heavily diluted or extinguished depending on the plan's terms once the written order and full plan details are disclosed.