Jiya Eco-Products Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 20/06/2025 ,inter alia, to consider and approve To consider the cancellation ....
Awaiting price reaction for this filing.
Jiya Eco-Products has informed BSE that its Board will meet on June 20, 2025, to consider cancelling and reducing its existing equity share capital. This involves 3,00,73,262 equity shares of Rs. 10 each, totalling Rs. 30,07,32,620. The action is being taken pursuant to a Resolution Plan approved by the NCLT (National Company Law Tribunal) on December 11, 2024. The Board will also fix a record date for this capital reduction and approve full extinguishment and deactivation of the company's ISIN. This effectively means the existing equity shares will be wiped out, which is typically part of an insolvency resolution process under India's Insolvency and Bankruptcy Code.
Existing shareholders will lose their entire equity holding as the shares are being cancelled under an NCLT-approved resolution plan. This is highly negative for current shareholders and the stock is likely to see significant value erosion or may become illiquid. Investors should note this is not a routine corporate action but a consequence of corporate insolvency proceedings.