Baron Infotech Limited (BSE: BARON) will be renamed PurpleTalk Limited following the approval of its Corporate Insolvency Resolution Process (CIRP) resolution plan. The Board of Directors, in its first meeting post-CIRP completion on September 23, 2026, ratified the National Company Law Tribunal (NCLT) order dated September 8, 2026, which sanctions the amalgamation of PurpleTalk India Private Limited with the company.

The restructuring involves a significant dilution of existing equity holders. Under the approved plan, all promoter and promoter-group shares will be cancelled without consideration. Public shareholders holding 89,30,800 equity shares will see a 95% reduction in their holdings. Investors will retain only 5% of their current stake, calculated as one new share for every twenty held, aggregating to 4,46,540 equity shares. The remaining 84,84,260 shares will stand cancelled without any payout.

New board and leadership changes

The newly constituted Board comprises five additional directors appointed effective September 22, 2026, pursuant to the resolution plan. Sridhar Muppidi has been appointed as Chairman and Managing Director. The erstwhile directors, including Bharani Ganapavarapu and Kamala Kumari Nadimpally, ceased office on September 23, 2026, following the NCLT order.

Operational and structural shifts

The Board approved shifting the registered office from Dwarakapuri, Hyderabad, to a new location at The Water Mark, Kondapur, Hyderabad. Additionally, the authorised share capital was increased to ₹300 crore, divided into 30,00,00,000 equity shares of ₹10 each. The Memorandum of Association was altered to include new main objects focusing on artificial intelligence, machine learning, cloud computing, and software development services.

What the numbers show

The resolution plan dictates a severe capital structure reset for minority investors. While the authorised share capital expands to ₹300 crore to accommodate the incoming entity PurpleTalk India Private Limited, public shareholders face a near-total wipeout of their numerical holding count, retaining only 5% of their original volume. This indicates that the value preservation for public shareholders relies entirely on the future performance of the merged entity rather than the legacy asset base of Baron Infotech.

Next steps

The record date for determining eligible shareholders for the share cancellation and retention is fixed as October 6, 2026. The name change is subject to final approval from the Central Registration Centre, Ministry of Corporate Affairs.

Baron Infotech Limited secured regulatory approval to postpone its annual general meeting for FY26. The Registrar of Companies, Telangana, granted a three-month extension, setting the new deadline for December 29, 2026.

The company continues to operate under the Corporate Insolvency Resolution Process (CIRP). The resolution professional filed the application for the extension with the registrar.

Regulatory Approval Details

The approval follows the standard procedure for companies undergoing insolvency resolution that require additional time to convene shareholder meetings. The registrar’s order explicitly permits the delay without penalizing the entity for non-compliance within the original statutory window.

Key Dates and Contacts

Dr Ahalada Rao Vummenthala serves as the resolution professional for the process. He also chairs the monitoring committee overseeing the company’s affairs during this period. The registered office remains in Hyderabad, Telangana.