Intimation under Regulation 30 of SEBI (LODR) Regulations, 2015- Notice for Reduction of Share Capital
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Tridev Infraestates Limited, formerly known as Ashutosh Paper Mills Limited, has informed BSE about a hearing notice received from the National Company Law Tribunal (NCLT) in connection with its petition for reduction of share capital under Section 66 of the Companies Act, 2013. The hearing is scheduled for 2nd July 2025. The filing also reveals that the company has undergone a name change from Ashutosh Paper Mills Limited to Tridev Infraestates Limited. The company has a small registered office in Delhi and uses its old paper mill email ID for communications.
Reduction of share capital typically means the company intends to cancel or write off shares, which can erode shareholder value. Shareholders should monitor the NCLT outcome closely as approved capital reduction may reduce their stake or face value. The name change from a paper mill to an infra company also signals a shift in business focus.