KDJ Holidayscapes And Resorts Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 18/04/2025 ,inter alia, to consider and approve KDJ Holidayscapes ....
Awaiting price reaction for this filing.
KDJ Holidayscapes has called a Board meeting on 18 April 2025 to execute a Resolution Plan approved by the NCLT Mumbai Bench on 4 March 2025. Key items on the agenda include fixing a record date for reduction of capital, cancelling existing equity shares, and allotting fresh shares to Mr. Ravikumar Gaurishankar Patel as the Successful Resolution Applicant. The Board will also consider cessation of existing Directors and Key Managerial Personnel and appointment of a new Managing Director, Independent Directors, and Chief Financial Officer. Additionally, the company may receive unsecured loans from Directors or Promoters. This signals a complete corporate reset following insolvency proceedings.
Existing shareholders face effective wipeout as current equity will be cancelled and new shares issued to the resolution applicant, likely leading to sharp negative stock price impact. The company will see a change in control and complete management overhaul under its new promoter.