Certificate under Regulation 74 (5) of SEBI (Depositories and Participants) Regulations 2018 for the quarter ended 31st March, 2025
Awaiting price reaction for this filing.
The company submitted a routine compliance certificate from its Registrar and Share Transfer Agent, Bigshare Services Pvt. Ltd., confirming that all securities received for dematerialization up to 31 March 2025 were properly processed and confirmed to the depositories, with share certificates mutilated and cancelled within the 15-day SEBI requirement. The filing reiterates that Nitin Fire Protection Industries has been under the Corporate Insolvency Resolution Process since 22 October 2018 and was placed into Liquidation by the NCLT Mumbai Bench on 18 January 2022 under the IBC, 2016. The Liquidator, Mr. Uliyar Balakrishna Bhat, has completed the sale of the company as a going concern under Section 33 of the IBC and issued a Sale Certificate dated 3 October 2024. The powers of the Board of Directors remain suspended and are vested with the Liquidator.
For shareholders, this is mainly a routine procedural filing, but it carries the significant context that the company has already been sold as a going concern under liquidation in October 2024, which is a key milestone that may affect the timing and quantum of any recovery for equity holders in the resolution process.