Omkar Speciality Chemicals Limited has informed the Exchange regarding Appointment of Mr. Kuldeep Menaria as Company Secretary & Compliance Officer of the company w.e.f. April 15, 2026.
Awaiting price reaction for this filing.
Omkar Speciality Chemicals, under Corporate Insolvency Resolution Process since December 2022, announced multiple resolutions from its Monitoring Committee meeting on April 15, 2026. The company fixed April 29, 2026 as the record date for extinguishing all existing equity shares held by promoters and public shareholders as per the NCLT-approved Resolution Plan dated July 31, 2025. Concurrently, 50 lakh new equity shares worth INR 5 crore are being issued to IFFAS Kshitij SPV LLP on private placement basis. The company also approved a loan of up to INR 20 crore from Kshitij Polyline Limited and treatment of earnest money deposit as debt under the resolution plan. Two new Key Managerial Personnel were appointed: Mr. Mahendra Kumar Jain as CFO and Mr. Kuldeep Menaria as Company Secretary & Compliance Officer, both effective April 15, 2026.
This represents a complete capital restructuring under the insolvency resolution process. Existing shareholders will see their shares cancelled and replaced by new investors, likely resulting in significant change of control. The company is being revived with fresh capital and new management structure.