Outcome of Third (3rd) Meeting of Monitoring Committee of the Company
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Awaiting price reaction for this filing.
Viksit Engineering's Monitoring Committee (set up after the NCLT order of February 11, 2025 approving the company's resolution plan) approved the issuance of 2,37,500 equity shares of Rs. 10 each to the Successful Resolution Applicant (Mr. Kushal Chaturvedi and Mrs. Ruchika Chaturvedi). A Record Date of May 23, 2025 was fixed to cancel the entire shareholding of the erstwhile promoters and to cap public-category shareholding at 5% of the proposed paid-up capital, while also determining which existing shareholders will receive 12,500 equity shares of Rs. 10 each under the approved plan. The Committee also reconstituted the Audit Committee and Nomination & Remuneration Committee with two newly appointed Independent Directors. This filing marks a key step in the company's revival under the insolvency resolution process.
Existing shareholders face significant dilution and likely loss of value: promoter holdings are being extinguished entirely and public shareholding is being forcibly reduced to just 5% of the post-issue capital. While the new promoter (Resolution Applicant) gains control, retail investors should verify eligibility under the plan and track the post-listing share price closely.