The National Company Law Tribunal (NCLT) has rejected the resolution plan submitted by authum inv & infr for the acquisition of Vas Infrastructure Ltd. The tribunal passed the order on July 7, 2026, overturning the company's previous selection as the successful resolution applicant for the target firm which is undergoing the Corporate Insolvency Resolution Process (CIRP).

Authum Investment & Infrastructure Ltd had initially emerged as the successful bidder for Vas Infrastructure Ltd, a development it announced to the stock exchanges on April 2, 2025. The rejection of the plan by the NCLT concludes the current acquisition attempt under the insolvency proceedings.

The company confirmed that the rejection of the resolution plan does not impact its business operations. It further stated that any future developments regarding the matter would be disclosed to the exchanges in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The following table outlines the key timeline of the event:

Authum Investment & Infrastructure Limited has received shareholder approval to amend its Memorandum of Association (MOA) following a postal ballot conducted through remote e-voting. The special resolution, which sought to modify the object clause and other provisions in accordance with the Companies Act, 2013, was passed with 99.99% of the votes polled in favour. The outcome signifies broad investor support for the company's proposed structural changes to its business objectives.

The postal ballot process was overseen by scrutinizer Mayank Arora of Mayank Arora & Co., Company Secretaries. Voting commenced on May 29, 2026, and concluded on June 27, 2026. A total of 73,25,61,842 votes were cast, representing an 86.26% participation rate based on the total outstanding shares. The resolution received 732,561,547 votes in favour and 295 votes against, with no invalid votes recorded.

The amendment involves the expansion and refinement of the object clause contained in Clause III of the MOA. This includes the insertion of new sub-clauses to broaden the scope of activities the company may pursue, such as acting as an investment company, providing financial services, and undertaking portfolio management. The changes also authorize the company to act as a sponsor, trustee, or investment manager to asset management companies and mutual funds.

The table below summarizes the voting results for the resolution:

Pursuant to Regulation 44(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company has submitted the voting results and the scrutinizer's report to the stock exchanges. The detailed results are also available on the company's website. The Board had authorized the Company Secretary to disseminate the outcome and file necessary documents with the Registrar of Companies to give effect to the amendments.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE206F01022/d53102cf064f455e.pdf