Intimation of Record Date for suspension of ISIN pursuant to the Order of Hon''ble NCLT Kolkata Bench dated August 14, 2025
Awaiting price reaction for this filing.
Hindusthan National Glass & Industries Ltd has set September 18, 2025 as the record date to suspend its existing ISIN (INE952A01022). This follows the NCLT Kolkata Bench's order dated August 14, 2025, which approved the resolution plan submitted by Independent Sugar Corporation Limited (INSCO) under Section 31 of the Insolvency and Bankruptcy Code. The company had been undergoing the Corporate Insolvency Resolution Process (CIRP). Suspension of the ISIN typically means existing equity shares will be delisted or cancelled as the new resolution applicant takes over the company.
Existing shareholders are likely to lose their equity value as the approved resolution plan under IBC typically extinguishes existing shares. The stock may become illiquid or trade only for cancellation purposes, and investors should expect a near-total loss on their holdings.