Bloom Dekor implements IBC resolution plan, new promoter takes control

Bloom Dekor board approved implementation of the NCLT-approved Resolution Plan under the Insolvency and Bankruptcy Code. Existing 68,50,000 equity shares were consolidated to 29,007 shares (250:1 ratio, those holding 250 or less get 1 share). New promoter Mr. Karan Singh Surjit Singh Wilkhoo (Resolution Applicant) was allotted 30,00,000 shares for funding and 81,37,774 shares via debt-to-equity conversion. Strategic Investors received 40,00,000 shares. Seven existing promoters and promoter group members were reclassified to Public category. Post-allotment paid-up capital stands at 1,51,66,781 equity shares of Rs. 10 each.