As per attached intimation
Awaiting price reaction for this filing.
NBCC (India) Limited, a government-owned Navratna CPSE, has submitted a Resolution Plan under the Corporate Insolvency Resolution Process (CIRP) for M/s Celebration City Projects Private Limited, Ghaziabad, which is associated with RED Mall. The submission was made on May 17, 2025, and filed with both NSE and BSE. The company has stated that further updates on this matter will be communicated in due course. This is an intimation of bid submission, not confirmation of approval of the resolution plan.
This signals NBCC's active interest in acquiring or reviving RED Mall through the insolvency route, which could expand its real estate portfolio if the plan is approved. For shareholders, this is a positive strategic move but carries execution and approval risk — the plan still needs to be cleared by the Committee of Creditors and the NCLT before any deal is finalized.