Description
NCLT approved resolution plan for JR Foods Ltd involves cancellation of 100% promoter shares and reduction of public shareholding with record date August 30, 2025.
Summary
JR Foods Ltd (Scrip Code: 530915) has fixed August 30, 2025 as the record date for reduction of equity share capital as per resolution plan approved by Hon’ble National Company Law Tribunal, Chennai Bench. The plan involves complete cancellation of promoter shareholding and significant reduction in public shareholding.
Key Points
- Record Date: August 30, 2025 (Ex-Date: August 29, 2025)
- 100% of promoter and promoter group equity shares to be cancelled and reduced to zero
- Public shareholders: 9 out of every 10 shares to be cancelled, 1 share of Rs. 10/- retained
- Public shareholders holding 9 or fewer shares will lose entire shareholding without compensation
- Trading in equity shares currently suspended
- Settlement Number: DR-704/2025-2026
Regulatory Changes
Implementation of NCLT-approved resolution plan under insolvency proceedings involving mandatory share capital reduction and cancellation without shareholder consent.
Compliance Requirements
- Trading members must note the record date and ex-date for corporate action processing
- No trading permitted as shares remain under suspension
- Corporate action processing as per NCLT order requirements
Important Dates
- Record Date: August 30, 2025
- Ex-Date: August 29, 2025
- Notice Date: August 26, 2025
Impact Assessment
Extreme dilution impact on existing shareholders with 90% share cancellation for public shareholders and complete elimination of promoter holdings. Shareholders holding small quantities face total loss of investment without compensation. Significant corporate restructuring under insolvency resolution framework.
Impact Justification
Major corporate restructuring involving complete cancellation of promoter shares and 90% reduction in public shareholding under NCLT resolution plan