NCLT approves resolution plan; promoter equity cancelled, company to be renamed

Nclt Insolvency AdmittedNclt Resolution ApprovedRegulatory & Legal View source PDF

SABEVENTS · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

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₹9.20

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AI summary

NCLT Mumbai approved SAB Events resolution plan under the Pre-Packaged Insolvency Resolution Process. Sri Adhikari Brothers Group consortium will inject Rs 32.62 crore equity at Rs 22.50 per share and merge Sri Adhikari Brothers Digital Network into the company. Existing promoter equity stands cancelled entirely; public shareholders reduced 100:5. Saturn Fund to recover Rs 2 crore against Rs 4.53 crore claim (44%). Operational creditors paid in full. Company to be renamed Sri Adhikari Brothers Digital Network Limited and remain listed on BSE and NSE.

Likely market impact

Public shareholders face 100:5 share reduction; promoter equity cancelled. Ownership shifts fully to Sri Adhikari Brothers Group.