Description

NCLT Bengaluru approved resolution plan for INDUS FILA LIMITED involving 100:1 share consolidation for public shareholders and complete extinguishment of promoter shareholding.

Summary

BSE has notified that INDUS FILA LIMITED (Scrip Code: 532821) will implement a resolution plan approved by the Hon’ble National Company Law Tribunal, Bengaluru Bench, involving reduction of share capital. The record date is set for February 9, 2026. The plan involves a 100:1 share consolidation for public shareholders and complete extinguishment of promoter and promoter group shareholding. Trading in the company’s equity shares is currently under suspension.

Key Points

  • Record date for capital reduction: February 9, 2026
  • Ex-date/Suspension date: February 9, 2026
  • Settlement Number: DR-816/2025-2026
  • Public shareholders: 100 existing shares will be consolidated into 1 equity share of Rs. 10/-
  • Promoter shareholding: Entire promoter and promoter group shareholding will be completely extinguished
  • Current status: Trading in equity shares is under suspension
  • Resolution plan approved by NCLT Bengaluru Bench, Court-1

Regulatory Changes

The resolution plan has been approved by the National Company Law Tribunal (NCLT), Bengaluru Bench, authorizing the restructuring of INDUS FILA LIMITED’s share capital structure. This represents a court-mandated corporate action under insolvency and bankruptcy proceedings.

Compliance Requirements

  • Trading members must note the record date of February 9, 2026
  • Trading members are informed that equity shares remain under trading suspension
  • Public shareholders holding 100 shares will receive 1 consolidated share of Rs. 10/- face value
  • Promoters and promoter group members will have their entire shareholding extinguished with no consideration

Important Dates

  • Notice Date: February 6, 2026 (Notice No. 20260206-13)
  • Record Date: February 9, 2026
  • Ex-Date/Suspension Date: February 9, 2026
  • Settlement Number: DR-816/2025-2026

Impact Assessment

For Public Shareholders: Severe dilution with 99% reduction in shareholding through 100:1 consolidation. Shareholders holding fewer than 100 shares may lose their entire holding or receive fractional entitlements.

For Promoters: Complete elimination of promoter stake with total extinguishment of shareholding, indicating likely insolvency resolution process.

Market Impact: Trading remains suspended. The drastic capital restructuring suggests the company is undergoing insolvency proceedings under IBC (Insolvency and Bankruptcy Code). The resolution plan fundamentally alters the ownership structure and represents a significant corporate event for all stakeholders.

Impact Justification

Major corporate restructuring involving 100:1 share consolidation for public shareholders and total elimination of promoter shareholding under NCLT-approved resolution plan. Significant dilution impact on existing public shareholders.