Eastern Silk Industries Limited has informed the Exchange regarding Board meeting held on July 25, 2025.
EASTSILK · price
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The board of Eastern Silk Industries met on July 25, 2025 and took on record the full and final payment made to creditors as required under clause 2.6 of the Resolution Plan approved by NCLT Kolkata in January 2024. The board also approved converting unsecured loans of ₹29 crores into equity shares at ₹2 per share, either in one go or in parts. This is part of the company's ongoing implementation of its NCLT-approved resolution plan following its insolvency proceedings.
Existing shareholders should note significant potential dilution, as ₹29 crores at ₹2 per share could result in up to ~14.5 crore new equity shares. Full payment to creditors is a positive milestone, but the debt-to-equity conversion will substantially increase the share count and reduce each shareholder's proportional ownership.