NCLT orders compliance with 2016 order on Rs 30 crore preference shares

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Price reactionminutes from the announcement price · days from the prior close

-0.5%Reaction day

₹1.88

prior close

₹1.86

announcement price

After-mkt

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Nifty Microcap 250market · in no size index; the smallest one is used-0.1%-0.4% vs market

Other Textile Products peers, median of 191sector+0.0%-0.6% vs sector

On the reaction day the stock moved 0.4 pts less than Nifty Microcap 250 and 0.6 pts less than its Other Textile Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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UpDownMarket · Nifty Microcap 250Sector · Other Textile Products peers, median of 191Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

NCLT Guwahati ordered Prag Bosimi Synthetics to take steps within 4 weeks to comply with a 2016 CLB order directing transfer of 30 lakh Redeemable Cumulative Convertible Preference Shares worth Rs 30 crore to 3A Capital Services. The NCLT did not express final opinion on implementation mode. The company is obtaining legal opinion on further action.

Likely market impact

Negative for the company. Directed to act on a 10-year-old order to transfer Rs 30 crore shares. Legal costs and share dilution risk ahead.