Samyak International Limited has been declared the Successful Resolution Applicant for Shree Uttam Food Products (India) Private Limited. The Committee of Creditors approved the company's resolution plan on September 25, 2026, marking a significant step in the corporate insolvency resolution process.

The approval follows the submission of a Final Resolution Plan by Samyak International on July 23, 2026. The plan was evaluated against the terms of the Request for Resolution Plan issued by the Resolution Professional of the Corporate Debtor.

Regulatory Compliance and Approval

The development was disclosed to BSE Limited under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Committee of Creditors of Shree Uttam Food Products took the decision at its meeting held on September 25, 2026.

The Resolution Plan submitted by Samyak International was approved with the requisite majority as per the applicable provisions of the Insolvency and Bankruptcy Code, 2016. This declaration positions the company to proceed with the next stages of the acquisition process, subject to final regulatory approvals.

Key Details of the Resolution Process

The move indicates Samyak International's strategic interest in expanding its footprint within the food products sector through the acquisition of distressed assets. The company's compliance officer, Nancy Jain, confirmed the intimation to the exchange, ensuring transparency for shareholders and market participants.

Samyak International has scheduled its 32nd Annual General Meeting for September 30, 2026, at 5:00 pm IST via video conferencing. The meeting will consider key resolutions including an increase in authorized share capital and alterations to the Memorandum of Association.

The company recently filed its annual report for FY26, disclosing a standalone net loss of ₹155.89 lakh against a consolidated net profit of ₹24.45 lakh. Shareholders will vote on these financial statements alongside strategic business expansions into packaging, infrastructure, and food trading.

Financial Performance

Standalone revenue from operations grew to ₹2,063.13 lakh in FY26, up from ₹1,472.38 lakh in FY25. However, total expenses rose to ₹2,181.51 lakh, resulting in the standalone loss. On a consolidated basis, revenue stood at ₹4,225.98 lakh compared to ₹4,117.00 lakh in the prior year.

Corporate Actions

Shareholders will consider several key resolutions at the upcoming AGM:

• Increase in Authorized Share Capital: Proposal to increase authorized share capital from ₹16 crore to ₹25 crore, creating an additional 90 lakh equity shares of face value ₹10 each.
• Alteration of MOA: Special resolution to alter the object clause of the Memorandum of Association to include new business activities such as manufacturing packaging materials, infrastructure development, and trading in food items and edible oils.
• Director Re-appointment: Re-appointment of Mrs. Neha Jain as a director, who retires by rotation. She holds 3,91,800 equity shares (4.90% stake) and drew remuneration of ₹16.00 lakh in FY26.

Voting Details

Remote e-voting is open from September 27, 2026, at 9:00 am to September 29, 2026, at 5:00 pm. The cut-off date for determining eligible shareholders is September 23, 2026. Members can access the e-voting facility through the CDSL platform or their depository participants.

What the Numbers Show

The divergence between standalone and consolidated results highlights the impact of subsidiaries on group profitability. While the standalone entity incurred a loss driven by higher expenses, the consolidated profit was supported by exceptional items totaling ₹119.79 lakh. This contrasts with the previous year where consolidated results were negative despite standalone profits, indicating a shift in contribution mix between the holding company and its group entities.