C & C Constructions Limited has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
Awaiting price reaction for this filing.
C & C Constructions Limited has filed its annual disclosure under SEBI's takeover regulations for FY ended 31 March 2025. The company was under liquidation and was sold as a going concern under the Insolvency and Bankruptcy Code, 2016, with the Sale Certificate issued by the Liquidator to the successful bidder on 27 December 2024. A reconstituted Board of Directors took charge after the sale. The company states that encumbrance disclosures from the erstwhile promoters for the prior financial year were not made available by the Liquidator or any other authority, and no declarations have been received from any erstwhile promoter. The shareholding structure is expected to be restructured per an NCLT order, with an application currently being filed.
For shareholders, this means there is limited visibility on encumbrances (pledges or similar charges) created by the previous promoter group, which adds uncertainty. However, the change of control via the IBC resolution process and upcoming NCLT-driven capital restructuring could materially reshape the shareholding pattern and equity value going forward.