Description

BSE suspends trading in Rolta India Limited shares following NCLT approval of resolution plan that cancels all existing equity and extinguishes shareholder rights.

Summary

BSE has suspended trading in equity shares of Rolta India Limited (Scrip Code: 500366) effective December 17, 2025, following the National Company Law Tribunal (NCLT) Mumbai Bench’s approval of a resolution plan under the Insolvency and Bankruptcy Code, 2016. The approved resolution plan mandates complete cancellation of all existing issued, subscribed and paid-up share capital, with all shareholder rights being extinguished and written-off without any payment to existing shareholders.

Key Points

  • NCLT Mumbai Bench has approved resolution plan for Rolta India Limited under IBC 2016
  • All existing issued, subscribed and paid-up share capital will be completely cancelled
  • All shareholder rights will be extinguished and written-off without any payment
  • Cancellation occurs simultaneously with issuance of new equity shares on Transfer Date
  • Trading suspended to avoid market complications
  • Suspension effective from December 17, 2025

Regulatory Changes

No new regulatory changes introduced. This circular implements existing provisions under the Insolvency and Bankruptcy Code, 2016, specifically relating to implementation of NCLT-approved resolution plans.

Compliance Requirements

  • Trading members must note the trading suspension in Rolta India Limited (Scrip Code: 500366)
  • No trades should be executed in this security from December 17, 2025 onwards
  • Members should update their systems to reflect the trading suspension status

Important Dates

  • December 17, 2025: Effective date of trading suspension in Rolta India Limited shares
  • Transfer Date: Date when existing shares will be cancelled and new equity shares will be issued (specific date to be determined as per resolution plan)

Impact Assessment

Market Impact: High - Complete trading suspension eliminates liquidity for existing shareholders. The stock becomes untradeable on BSE, preventing any exit opportunity for current investors.

Investor Impact: Severe - Existing shareholders face total loss as their shares will be cancelled without any compensation. All shareholder rights are being extinguished under the NCLT-approved resolution plan.

Operational Impact: Trading members must immediately update their systems to prevent any inadvertent trades in this security. The suspension prevents market complications that could arise from trading during the resolution plan implementation phase.

Legal Context: This action follows due legal process under IBC 2016 with NCLT approval, representing the final stage of corporate insolvency resolution where existing equity holders typically receive no recovery.

Impact Justification

Complete trading suspension due to NCLT-approved resolution plan under IBC 2016 that extinguishes all existing shareholder rights without payment, representing total loss for current shareholders