In the meeting of Monitoring Committee held on 28th And 29th August 2025 attached items are approved and taken on record as per the approved Base Resolution Plan approved by NCLT
Awaiting price reaction for this filing.
The NCLT Mumbai Bench (Court IV) had approved the Final Base Resolution Plan for the company on 28 July 2025, and the 2nd Monitoring Committee meeting was held on 28–29 August 2025. The erstwhile Resolution Professional reported that payments totalling roughly ₹3.73 crore were made to various creditors as full and final settlement, including ₹2.42 crore to Tricom Prints and Packaging, ₹21.76 lakh to the Income Tax Department, and smaller amounts to other operational and statutory creditors. Only a small ₹19,025 payment to the Professional Tax Department is pending due to missing payee details. Most importantly, the committee unanimously approved extinguishment of the entire promoter shareholding (49% or 4,90,051 shares) and 95% of public shareholding (4,84,452 shares), leaving only 5% of public shares (25,497 shares) intact. This share cancellation is being carried out under the NCLT-approved resolution plan and does not require additional Companies Act or SEBI LODR procedures.
Existing public shareholders will see roughly 95% of their shareholding extinguished (wiped out), and promoter holdings will go to zero — a near-total loss for current investors, though this is a standard step in the company's revival under the NCLT resolution process. Going forward, the reduced share base will reflect a restructured company emerging from insolvency proceedings.