Pursuant to Monitoring Committee Meeting held today on 03rd December, 2025, the resolutions passed by the committee are attached herewith.
Awaiting price reaction for this filing.
Dharti Proteins Ltd (formerly Devika Proteins Ltd), which was a corporate debtor under the Insolvency and Bankruptcy Code, has received approval of its resolution plan from the NCLT, Ahmedabad. As part of implementing the approved plan, the Monitoring Committee has reconstituted the board: the four existing directors and KMPs have been deemed to have resigned, and seven new directors (including a Managing Director, Executive Director & CFO, and three Independent Directors) along with a new Company Secretary have been appointed. Critically, all existing outstanding paid-up equity shares of the company stand cancelled and extinguished, and fresh equity shares will be issued to existing shareholders and the Promoter/Promoter Group. The communication is signed by the Resolution Professional, confirming the IBC-driven nature of these changes.
Existing shareholders will see their current equity shares cancelled and replaced with fresh shares issued under the approved resolution plan, which typically results in significant dilution or value reset. Investors should review the resolution plan terms to understand their revised shareholding and any changes to their economic interest in the company.