NCLT approves Alps Industries resolution plan; existing equity holders near zero value

NCLT Allahabad approved Alps Industries resolution plan on Nov 4, 2025 under IBC. Plan value is Rs 18.75 crore by consortium led by Securocorp Securities (95%) along with existing promoters Agarwal brothers. Edelweiss ARC, sole financial creditor with admitted claim of about Rs 6,119 crore, gets roughly Rs 15 crore upfront. Existing equity face value cut from Rs 10 to Rs 0.10 then consolidated, wiping out current shareholders. New promoter Securocrop to hold about 95 percent post restructuring. Company to restart textile operations as going concern.