Hindusthan National Glass & Industries Limited has informed the Exchange about disclosure related to formation of Monitoring Committee for implementation of the Approved Resolution Plan and Delisting of securities of the Company
Awaiting price reaction for this filing.
The National Company Law Tribunal (NCLT), Kolkata Bench has approved the company's Resolution Plan on August 14, 2025, bringing the Corporate Insolvency Resolution Process (CIRP) to a close. The Resolution Professional, Mr. Girish Siriram Juneja, has ceased to hold office from the same date. A Monitoring Committee has been constituted — comprising the Managing Agent, two representatives of the Committee of Creditors, and two nominees of the Resolution Applicant — to oversee the implementation of the approved plan until the Trigger Date. Additionally, the company has begun the process of applying to SEBI and the stock exchanges for delisting its Non-Convertible Debentures and Equity Shares under the relevant SEBI delisting regulations.
This marks a critical turning point for shareholders — the company is exiting insolvency but pursuing delisting of its equity shares, meaning public investors may lose the ability to trade these shares on the stock exchanges. Shareholders should watch for further disclosures on the delisting timeline, exit options (such as a buyback or fair-value discovery process), and the long-term revival prospects of the business under the new resolution applicant.