Pursuant to the Approved Resolution Plan Approved by the Hon''ble NCLT, Cuttack Bench, order dated 29th August, 2025 submitted by Ocean Capital Market Limited ("Resolution Applicant") under ....
Awaiting price reaction for this filing.
ARSS Infrastructure Projects, currently undergoing Corporate Insolvency Resolution Process (CIRP), has fixed Friday, 19th December 2025 as the Record Date for extinguishing 1,06,19,468 equity shares held by the existing Promoter and Promoter Group. This action follows the Resolution Plan approved by the NCLT Cuttack Bench on 29th August 2025, submitted by Ocean Capital Market Limited as the Resolution Applicant under the Insolvency and Bankruptcy Code, 2016. After the record date, the entire equity shareholding of the erstwhile promoters will stand fully cancelled and reduced to zero, as part of the approved capital restructuring. This is a major corporate action tied to the company's exit from insolvency, with the Resolution Applicant set to take over control of the company.
Existing promoters will completely lose their shareholding (1.06 crore shares cancelled), marking the formal end of the old promoter regime under the IBC process. Public shareholders should watch for further disclosures on any dilution or changes to their shareholding as the Resolution Applicant's plan is implemented, which could materially affect the stock price and ownership structure.