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 announced the implementation of a resolution plan approved by the Hon’ble National Company Law Tribunal (NCLT), Bengaluru Bench for INDUS FILA LIMITED (Scrip Code: 530715/532821). The plan involves significant reduction of share capital through a 100:1 consolidation for public shareholders and complete extinguishment of all promoter and promoter group shareholding. The record date for this corporate action is February 9, 2026. Trading in the company’s equity shares is currently under suspension.

Key Points

  • Record Date: February 9, 2026 (Ex-date also February 9, 2026)
  • Settlement Number: DR-816/2025-2026
  • Public shareholders will receive 1 equity share of Rs. 10/- for every 100 shares held
  • Entire shareholding of promoter and promoter group will be completely extinguished
  • Resolution plan approved by NCLT Bengaluru Bench, Court-1
  • Trading in equity shares currently under suspension
  • Notice Number: 20260206-13
  • Notice Date: February 6, 2026

Regulatory Changes

This action is implemented pursuant to an order passed by the Hon’ble National Company Law Tribunal, Bengaluru Bench under insolvency and bankruptcy proceedings. The resolution plan mandates:

  1. Share Consolidation for Public Shareholders: Drastic 100:1 consolidation ratio reducing the number of shares held by public shareholders by 99%
  2. Promoter Stake Elimination: Complete extinguishment of all equity held by promoters and promoter group members, resulting in zero promoter shareholding post-implementation

Compliance Requirements

  • Trading members must note the record date of February 9, 2026 for processing the share capital reduction
  • Members should be aware that trading remains suspended and process client holdings accordingly
  • Investors holding fewer than 100 shares will likely lose their entire shareholding in the consolidation
  • Demat accounts will be updated to reflect the new consolidated shareholding post-record date

Important Dates

  • Notice Date: February 6, 2026
  • Record Date: February 9, 2026
  • Ex-Date: February 9, 2026
  • Settlement Number: DR-816/2025-2026

Impact Assessment

Shareholder Impact: Extremely high negative impact on existing shareholders. Public shareholders face a severe 99% reduction in their shareholding through the 100:1 consolidation, while promoters lose their entire stake. Shareholders holding less than 100 shares will be completely wiped out.

Market Impact: The company’s equity shares are currently under trading suspension, indicating severe financial distress. The NCLT-approved resolution plan suggests the company is undergoing insolvency resolution proceedings.

Ownership Structure: Complete change in ownership structure with promoter stake reduced to zero and significant dilution of public shareholding, likely paving the way for new investor entry as part of the resolution plan.

Liquidity: No immediate trading impact due to existing suspension. Post-implementation, the drastically reduced share count may impact liquidity if/when trading resumes.

Impact Justification

Drastic capital restructuring involving 100:1 consolidation for public shareholders and complete elimination of promoter stake under NCLT-approved resolution plan. Trading currently suspended.