NCLT appoints new Resolution Professional for Siti Networks under IBC

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SITINET · price

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

+4.3%Reaction day

₹0.23

prior close

₹0.23

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used-1.6%+6.0% vs market

On the reaction day the stock moved 6.0 pts more than Nifty Microcap 250, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

+4.3

10m

+4.3

15m

+4.3

30m

+4.3

Sessions after the filingfrom the prior close

StockMarketvs market

Reaction day

+4.3-1.6+6.0

Next day

+4.3-1.0+5.3

+4.3-2.6+7.0

+0.0-5.1+5.1

+0.0-6.1+6.1

+4.3-8.3+12.6

+8.7-6.4+15.1

15d

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UpDownMarket · Nifty Microcap 250Pending

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AI summary

Siti Networks shares NCLT Mumbai order dated September 28, 2026 appointing Mr Trupalkumar Patel as new Resolution Professional. The earlier RPs registration was cancelled by IBBI in August 2026. Joint lenders voted 72 percent to appoint the new RP. Indusind Bank had filed the insolvency petition against the company under Section 7 of IBC. The company remains in the insolvency resolution process.

Likely market impact

Company stays under IBC insolvency. Shareholders face uncertainty as the ongoing process may affect equity value and recovery.