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As per the Resolution Plan approved by Hon’ble National Company Law Tribunal, Kolkata Bench,:-
Captial Re-structuring would be done in following phases:-
1. Capital Reduction and Cancellation of the Existing Equity Shares held by Promoter and Promoter Group: The entire existing shareholding of Equity Shares held by erstwhile Promoter and Promoter Group shall be cancelled and reduced to Zero with no consideration payable;
2. Reduction/Cancellation of Existing Equity shares held by existing Public Shareholders :
Step - i. The existing Public shareholding of Re. 1/- each to be reduced to Re. 0.04 each, thereby reducing the face value of equity shares by Re. 0.96 per equity share.
Step- ii. To consolidate 25 equity shares of Re. 0.04 each into 1 equity share of Re. 1/- each to be carried out proportionately amongst the existing Public Shareholders of the Company.
Step- iii. Any fraction to credited to Trust demat account opened by the Company.
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