Description

BSE suspends trading in Hindusthan National Glass & Industries Limited (515145) effective September 3, 2025, as NCLT-approved resolution plan cancels existing equity shares and mandates delisting.

Summary

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 without further action and the company will be delisted from the exchange.

Key Points

  • Trading suspended effective September 3, 2025
  • NCLT Kolkata Bench approved resolution plan under IBC 2016
  • Existing equity shares to be cancelled from effective date of resolution plan
  • Company to be delisted from BSE
  • Suspension implemented to avoid market complications

Regulatory Changes

The suspension is implemented under the Insolvency and Bankruptcy Code, 2016 framework following NCLT approval of the resolution plan. The existing equity shares stand cancelled as per the resolution plan provisions without requiring any further acts or deeds from shareholders.

Compliance Requirements

  • All market participants must cease trading in the security from September 3, 2025
  • Brokers and intermediaries to update their systems to reflect trading suspension
  • No further trading permitted in scrip code 515145
  • For clarifications, members to contact bse.soplodr@bseindia.com

Important Dates

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

Impact Assessment

The suspension and subsequent delisting will have significant impact on existing shareholders as their equity holdings will be cancelled under the IBC resolution process. This action prevents any further trading to protect market integrity and avoid complications arising from the corporate insolvency resolution process. Investors holding shares will lose their equity value as per the NCLT-approved resolution plan.

Impact Justification

Complete suspension of trading and delisting directly impacts all shareholders with equity cancellation under IBC resolution