Disclosure under Regulation 30 and other applicable regulations of SEBI (LODR) Regulations, 2015, regarding the submission of the dissolution application under section 59(7) of the Insolvency ....
Awaiting price reaction for this filing.
Insilco Ltd, which has been under voluntary liquidation since June 25, 2021, has moved one step closer to formally shutting down. The company's liquidator has filed an application before the National Company Law Tribunal (NCLT), Allahabad seeking dissolution of the company under Section 59(7) of the Insolvency and Bankruptcy Code, 2016. This application was filed along with the Final Report and a compliance certificate in Form-H as required under Regulation 38(3) of the IBBI (Voluntary Liquidation Process) Regulations, 2017. The filing indicates that the company's assets have been fully liquidated and its affairs completely wound up. This is essentially the final step in the company's exit from the stock exchanges once NCLT approves the dissolution.
This filing signals the final stage of Insilco's winding up, which will lead to the company's eventual delisting from BSE once NCLT approves the dissolution. Shareholders should not expect any revival or value unlocking from this stock — it's effectively in the process of ceasing to exist as a listed entity.