The Exchange has received the disclosure under Regulation 10(6) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Kushal Chaturvedi
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Kushal Chaturvedi, along with person acting in concert Ruchika Chaturvedi, has acquired 2,37,500 equity shares (2,35,000 by Kushal and 2,500 by Ruchika) of Viksit Engineering Ltd via allotment at a Board Meeting on March 27, 2026. The acquisition was carried out pursuant to a Resolution Plan approved by the NCLT, Mumbai Bench vide its order dated February 11, 2025, and qualifies for exemption under Regulation 10(1)(da) of SEBI (SAST) Regulations, 2011, meaning no open offer obligation is triggered. The total consideration is INR 23,50,000 at face value of INR 10 per share. Post-transaction, the acquirers collectively hold 95% of the total share capital of the company, up from 0% earlier, effectively making them the new promoters.
This represents a change in control of Viksit Engineering Ltd, with new promoters (Chaturvedi family) taking 95% stake through the company's insolvency resolution process. Existing minority shareholders should note the new controlling shareholders and the fact that no open offer is triggered due to the NCLT exemption, while the company's future direction will now be driven by the new promoters.