Intimation under Reg 30 SEBI ( LODR) 2015 - Hon''ble NCLT, Mumbai Bench has approved the Resolution Plan vide its order date 28th July 2025.
Awaiting price reaction for this filing.
The NCLT Mumbai Bench has approved the Final Base Resolution Plan for Lords Mark India Ltd (formerly Kratos Energy & Infrastructure Ltd) under Section 54K(15) of the Insolvency and Bankruptcy Code, 2016, via its order dated 28th July 2025. The plan was jointly submitted by the company (as Corporate Debtor) along with Lord's Mark Industries Pvt. Ltd. as the Strategic Investor, and was approved by the Committee of Creditors with 100% voting share. Key features include a total resolution payout of Rs. 331.45 Lakh within 60 days, settlement of SEBI's disputed claim of Rs. 6.08 Crore (Rs. 4.33 Crore already paid per Supreme Court order plus Rs. 1.95 Crore NSE security deposit adjusted), and complete extinguishment of the existing promoters' shareholding with control shifting to a new board. The plan also involves a reverse merger by absorption of the Strategic Investor into the listed company, with shareholders of the Strategic Investor receiving 1.25 shares of Rs. 10/- each in the listed entity for every share of Rs. 5/- held.
This is a significant positive for shareholders as it resolves the company's insolvency proceedings, ends the moratorium, and paves the way for a reverse merger with the Strategic Investor. Existing shareholders' holdings will be fully extinguished, meaning the current promoter group will lose all ownership while the Strategic Investor's shareholders will take control of the listed entity.