Description

Trading in Hindusthan National Glass & Industries Limited equity shares suspended from September 3, 2025, following NCLT Kolkata approval of resolution plan under IBC that cancels existing shares and delists the company.

Summary

The BSE has announced the suspension of trading in equity shares of Hindusthan National Glass & Industries Limited (Scrip Code: 515145) effective September 3, 2025. The suspension follows the approval of a resolution plan by the National Company Law Tribunal (NCLT), Kolkata Bench, under the Insolvency and Bankruptcy Code, 2016. As per the approved resolution plan, all existing equity shares will be cancelled and the company will be delisted from the exchange.

Key Points

  • NCLT Kolkata has approved the resolution plan for Hindusthan National Glass & Industries Limited under IBC 2016
  • Existing equity shares will be cancelled without any further act from the effective date of the resolution plan
  • Trading suspended with effect from September 3, 2025
  • Company will be delisted from BSE
  • Suspension implemented to avoid market complications

Regulatory Changes

The company is undergoing resolution under the Insolvency and Bankruptcy Code, 2016. The NCLT-approved resolution plan mandates the cancellation of all existing equity shares and delisting of the company from stock exchanges.

Compliance Requirements

  • Shareholders and market participants must note that no trading will be permitted in the scrip from September 3, 2025
  • For clarifications, members should contact BSE at bse.soplodr@bseindia.com
  • Existing shareholders should refer to the resolution plan for details on their treatment

Important Dates

  • Notice Date: September 2, 2025
  • Trading Suspension Effective: September 3, 2025
  • Share Cancellation: From the effective date of the resolution plan

Impact Assessment

This suspension has severe implications for existing shareholders as their shares will be cancelled as per the IBC resolution plan. The delisting eliminates any possibility of market exit through trading. Shareholders will need to refer to the specific terms of the NCLT-approved resolution plan to understand any compensation or treatment they may receive. The action prevents further market transactions to protect investors from trading in securities that will be cancelled.

Impact Justification

Complete suspension of trading and delisting of a company affects all shareholders with immediate effect