Considering the viability of operations and examining the proposal for voluntary liquidation of the company under Section 59 of IBC, 2016
Awaiting price reaction for this filing.
Hemadri Cements Ltd's Board of Directors, at a meeting held on 18th June 2025, approved a proposal for voluntary liquidation of the company under Section 59 of the Insolvency and Bankruptcy Code (IBC), 2016. The decision is subject to approval from shareholders through a special resolution and from creditors holding at least two-thirds in value of the company's debt. The Board also recommended appointing Mr. Rajendran Shanmugam, a registered Insolvency Professional with IBBI, as the Liquidator. The company is listed on BSE (Scrip code: 502133) and the meeting concluded at 1:30 PM.
This is a highly negative signal for shareholders — voluntary liquidation typically means the business is no longer viable and shareholders are likely to receive little to no recovery. Pending creditor and shareholder approvals, the stock is likely to face significant selling pressure and potential delisting once liquidation is completed.