Newspaper Advertisment of public announcement (Form B) by Liquidator of the Company under Regulation 12 of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulation 2016
Awaiting price reaction for this filing.
Ushdev International Ltd has entered liquidation following an order from the NCLT Mumbai Bench dated 16th October 2025. The liquidation process formally began on 16th October 2025, after the closure of the Insolvency Resolution Process on 11th March 2022. Trupalkumar Patel has been appointed as the Liquidator (IBBI Registration: IBBI/IPA-001/IP-P01186/2018-2019/11907). Stakeholders including financial creditors, operational creditors, employees and shareholders have been asked to submit their claims with proof on or before 15th November 2025. Financial creditors must submit claims electronically, while other creditors may submit in person, by post or electronically. The announcement was published on 27th October 2025 in English, Hindi, Marathi, Gujarati, Kannada and Tamil newspapers.
This is a highly negative development for shareholders, as liquidation typically results in little to no recovery for equity holders, who are last in the priority of payouts. The stock (Scrip Code: 511736) is likely to face trading restrictions or delisting proceedings. Creditors now have until 15th November 2025 to file claims, which will determine the eventual distribution of the company's remaining assets.