Pursuant to Regulation 30 of the Listing Regulation, please find enclosed copy of letter sent to the physical shareholder to claim shares from Suspense escrow account
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Awaiting price reaction for this filing.
Axis Solutions Ltd (formerly Asya Infosoft Ltd) has written to shareholders who still hold physical shares, asking them to claim their entitled shares from the company's Suspense Escrow Account. This follows a Resolution Plan approved by the NCLT Ahmedabad Bench on 11 July 2024 and the NCLAT Delhi Bench on 27 August 2024 under the Corporate Insolvency Resolution Process (CIRP). Under the plan, new shares were issued only in dematerialized form, with 18 September 2024 as the record date. In the example cited (shareholder Dinesh Shah), original holdings of 200 physical shares were reduced to an entitled holding of just 10 shares, reflecting a ~95% haircut. Shareholders must submit original share certificates and KYC documents (PAN, Aadhaar, demat master, cancelled cheque, Form ISR-2 and ISR-4) to the Registrar, Aarthi Consultants Pvt Ltd, Hyderabad, to claim their shares.
This is a procedural/compliance intimation and is unlikely to move the stock on its own. However, it confirms the formal completion of the company's insolvency resolution, and signals a major dilution/cancellation of pre-resolution physical holdings. Physical shareholders should act quickly to claim their demat shares before any further deadline lapses.