Pursuant to NCLT Order No. IA(IBC)/2832(MB)2025IA(IBC)/INC.P.(IB)/66(MB)201 dated 13th August 2025, the Board in their meeting held on Today, 26th March 2026 has allotted 70 LAKHS equity ....
Awaiting price reaction for this filing.
Euro Ceramics Ltd, which has been under liquidation, has been acquired as a going concern by Jaquar and Company Pvt Ltd for Rs. 42.9 crore through an e-auction process. The NCLT Mumbai Bench, via order dated August 13, 2025, confirmed the sale and granted sweeping reliefs including extinguishment of all pre-liquidation liabilities, removal of the suspended board of directors, and appointment of new directors nominated by the successful bidder. The order also allows the existing paid-up share capital to be extinguished and fresh equity to be issued, subject to SEBI and stock exchange approvals. Pursuant to this, the Board on March 26, 2026 allotted 70 lakh equity shares, likely to the new acquirer as part of the fresh capital issuance.
This is effectively a change of ownership via the IBC liquidation route. Existing shareholders' equity stands extinguished, meaning their shares are likely to become worthless. The new acquirer gains a clean company free of historical liabilities, while retail shareholders in Euro Ceramics face near-total loss of their investment.