BSEDatacipher LtdHighNegative
Announced Mon, 18 Aug, 2025 · 13:56 IST

Change in Management pursuant to NCLT order

Ceo Appointed ExternalPromoter Family Board EntryManagement Changes View source PDFExplain this filing
Price reaction

Awaiting price reaction for this filing.

AI summary

J.R. Foods Limited (Scrip Code: 530915) has implemented an NCLT-approved resolution plan dated 24th July 2025 from the Chennai Bench, resulting in a complete change of control. The existing promoters' entire shareholding has been cancelled and reduced to zero, while public shareholders lose 9 out of every 10 shares held (those holding 9 or fewer shares lose everything without cash compensation). The successful resolution applicant group led by Mr. Amarandhar Reddy Kotha has been allotted 72,80,912 fresh equity shares of Rs. 10 each through a merger of Datacipher Solutions Private Limited. Mr. Amarandhar Reddy Kotha has been appointed Managing Director for 5 years, Mr. Rajesh Kumar Mallour as Whole-time Director cum CFO, and Mrs. Bhargavi Medisetty as Independent Director. All three previous directors – Mr. Kothari Dinesh, Mr. Gopi, and Mrs. Kamala – have ceased as directors pursuant to the NCLT order. A new corporate office has been opened in Hyderabad.

Likely market impact

This is a near-total wipeout for existing shareholders – promoters lose 100% and public shareholders lose 90% of their holdings with no compensation. The stock will effectively represent a new business under new promoters post-restructuring, so existing investors should reassess their positions carefully as this is not a routine management change but a court-ordered insolvency resolution.