Description
BSE suspends trading in Rolta India Limited shares effective December 17, 2025, following NCLT approval of resolution plan that cancels all existing equity shares without payment to shareholders.
Summary
BSE has suspended trading in the equity shares of Rolta India Limited (Scrip Code: 500366) with effect from December 17, 2025. This action follows the approval of a resolution plan by the Hon’ble National Company Law Tribunal (NCLT), Mumbai Bench, under the Insolvency and Bankruptcy Code, 2016. The resolution plan mandates complete cancellation of all existing issued, subscribed and paid-up share capital, with all shareholder rights being extinguished without any payment to existing shareholders.
Key Points
- NCLT Mumbai Bench has approved resolution plan under IBC, 2016 for Rolta India Limited
- All existing issued, subscribed and paid-up share capital will be completely cancelled
- All rights of existing shareholders will be extinguished and written-off
- No payment will be made to existing shareholders
- Cancellation will occur simultaneously with issuance of new equity shares on Transfer Date
- Trading suspended to avoid market complications
- Suspension effective from December 17, 2025
Regulatory Changes
This circular implements trading suspension measures in accordance with the NCLT-approved resolution plan under the Insolvency and Bankruptcy Code, 2016. The suspension prevents further trading in securities that will cease to exist under the approved resolution framework.
Compliance Requirements
- Trading members are required to take note of the trading suspension
- No trading permitted in Rolta India Limited securities (Scrip Code: 500366) from December 17, 2025
- Market participants must ensure compliance with the suspension order
Important Dates
- December 17, 2025: Trading suspension effective date
- Transfer Date: Date when existing shares will be cancelled and new equity shares issued (specific date to be determined per resolution plan)
Impact Assessment
Shareholder Impact: Existing shareholders of Rolta India Limited face total loss as all equity shares will be cancelled without compensation. This represents complete extinguishment of shareholder rights and investment value.
Market Impact: Trading suspension prevents further market activity in the scrip, protecting investors from trading in securities that will be cancelled. This avoids potential complications and disputes arising from transactions in shares with no residual value.
Corporate Action: The resolution plan under IBC proceedings will result in complete restructuring of the company’s share capital, with new equity shares to be issued to resolution plan beneficiaries on the Transfer Date.
Impact Justification
Complete suspension of trading and total cancellation of existing equity shares with no shareholder compensation represents maximum impact for existing shareholders under IBC proceedings