Description
ARSS Infrastructure Projects Limited announces reduction of share capital as per NCLT approved Resolution Plan, with extinguishment of promoter shareholding and record date set for December 19, 2025.
Summary
ARSS Infrastructure Projects Limited (Scrip Code: 533163) has fixed December 19, 2025 as the record date for reduction of share capital pursuant to a Resolution Plan approved by the Hon’ble National Company Law Tribunal, Cuttack Bench. The plan provides for complete extinguishment of promoter and promoter group shareholding, while existing public shareholding continues on an as-is basis. Post-implementation, public shareholding will constitute 13.45% of the company.
Key Points
- Record date for capital reduction: December 19, 2025
- Ex-date/No dealings date: December 19, 2025
- Complete extinguishment/cancellation of entire existing equity shareholding of promoter and promoter group
- Existing public shareholding to continue on as-is where-is basis
- Post-implementation public shareholding will be 13.45% (above minimum 5% threshold)
- New equity shares will be allotted as per the approved resolution plan
- Trading in equity shares currently remains under suspension
- Settlement Number: DR-781/2025-2026
Regulatory Changes
The Resolution Plan approved by NCLT Cuttack Bench mandates:
- Reduction/cancellation of entire promoter and promoter group equity holdings
- Allotment of new equity shares per the resolution plan
- Restructuring of shareholding pattern with public shareholders holding 13.45% post-implementation
Compliance Requirements
- Trading members must note that trading in ARSS Infrastructure Projects Limited shares remains suspended
- Members should update records reflecting the record date of December 19, 2025
- Compliance with NCLT order provisions for capital reduction
- Recognition of changed shareholding structure post-implementation
Important Dates
| Date | Event |
|---|---|
| December 19, 2025 | Record Date for capital reduction |
| December 19, 2025 | Ex-Date/No Dealings date |
| December 16, 2025 | Circular issuance date |
Impact Assessment
Corporate Impact: The complete extinguishment of promoter shareholding represents a fundamental restructuring of the company’s ownership under NCLT supervision, typically associated with insolvency resolution proceedings. This indicates the company has undergone or is undergoing financial distress resolution.
Shareholder Impact: Existing public shareholders retain their holdings on an as-is basis, but their percentage ownership will increase to 13.45% due to promoter share cancellation and new equity allotment. The shareholding pattern will be significantly altered.
Market Impact: Trading remains suspended, limiting immediate market impact. The resolution plan implementation may eventually lead to trading resumption once restructuring is complete. The notice emphasizes continuation of public shareholding, providing some stability for existing minority shareholders.
Legal Significance: NCLT-approved resolution plans are binding and represent court-sanctioned corporate reorganization, typically under the Insolvency and Bankruptcy Code framework.
Impact Justification
Complete extinguishment of promoter shareholding under NCLT-approved resolution plan represents fundamental corporate restructuring with significant impact on shareholding pattern, though trading already suspended.