Omkar Speciality Chemicals Limited has informed the Exchange that Record date for the purpose of Extinguishment of shares pursuant to the Resolution Plan as approved by the Hon ble NCLT is 15-Apr-2026.
Awaiting price reaction for this filing.
Omkar Speciality Chemicals Limited, admitted into Corporate Insolvency Resolution Process (CIRP) since December 2022, has called a Monitoring Committee meeting on April 15th, 2026. Key agenda items include determining a record date for extinguishment of all existing equity shares held by both promoters and public shareholders, and issuance of 50 lakh new equity shares at INR 10 per share for INR 5 crore to implement the NCLT-approved Resolution Plan. The meeting will also consider new borrowings, opening an equity subscription account, appointment of a CFO and Company Secretary, and reimbursement of CIRP costs. The document confirms the company is in the implementation phase of its insolvency resolution process.
The extinguishment of existing shares and issuance of new shares signals a complete restructuring of the company's equity structure under the approved Resolution Plan, which will significantly dilute or eliminate existing shareholders' stakes. This is a typical outcome of NCLT-approved insolvency resolution plans.