Hon''ble NCLT approved Modified Resolution Plan
Awaiting price reaction for this filing.
Fedders Electric and Engineering Ltd (formerly Fedders Lloyd Corporation Ltd) informed that the NCLT Allahabad Bench, vide order dated 16.10.2025, has approved the modification of its previously approved Resolution Plan to allow delisting of the company's equity shares from BSE and NSE. The company was admitted into the Corporate Insolvency Resolution Process (CIRP) in 2019, and its original Resolution Plan was approved on 06.10.2021, under which the existing share capital was reduced to NIL and Rs 30 Crores was committed by the Resolution Applicant (IM+ Capitals Limited, formerly Fedders holding Limited). Since the implementation left the company with 100% promoter holding and zero public shareholding — which conflicted with a later SEBI rule requiring at least 5% public shareholding — BSE had even frozen promoter demat accounts in February 2025. Both NSE and BSE, along with creditors representing 74.41% voting share, gave no objection to the modification. The company will now continue as a going concern but as a delisted entity.
This is effectively a delisting approval for shareholders, meaning existing equity holders will lose their ability to trade shares on the exchange. The exit value for public shareholders will be governed by the delisting regulations still to be followed. For the stock, expect a sharp drop in liquidity and possible exit opportunity pricing once the delisting process is completed.