BSEMajestic Research Services and Solutions LtdCriticalNeutral
Announced Thu, 1 Oct, 2026 · 17:34 IST

IBC resolution plan implemented: share capital restructured, new allottees

Nclt Scheme FiledListed Co AcquisitionStrategic Transactions View source PDFExplain this filing
Price reaction

Awaiting price reaction for this filing.

AI summary

Board approved IBC resolution plan implementation. All existing promoter shares (51.37 lakh, face value Rs 10) cancelled without payment. Existing public shareholders' 48.89 lakh shares cancelled; only 20,650 fresh shares allotted back to them. Additionally, 3.92 lakh fresh equity shares allotted to 5 allottees (all Patel family members) at Rs 10 each on preferential basis, following NCLT Bengaluru order dated June 20, 2025.

Likely market impact

Massive value loss for existing public shareholders - getting only 20,650 shares back versus 48.89 lakh cancelled. Control shifts to Patel family.