News Corporate Actions Dharti Proteins Limited Sets Record Date for Capital Reduction Under NCLT-Approved Resolution PlanDharti Proteins Limited Sets Record Date for Capital Reduction Under NCLT-Approved Resolution Plan
Dharti Proteins Limited has set February 13, 2026 as the record date for capital reduction under its NCLT-approved resolution plan dated November 18, 2025. The restructuring will reduce the company's paid-up capital from 1,02,77,200 equity shares to 5,00,000 equity shares of Rs.10 each. Public shareholders will receive 25,000 shares proportionally, while the successful resolution applicant gets 4,25,000 shares and financial creditor Goenka Business & Finance Limited receives 50,000 shares plus upfront cash.
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Dharti Proteins Limited (formerly Devika Proteins Limited) has fixed February 13, 2026 as the record date for capital reduction under its NCLT-approved resolution plan. The decision was taken during the company's second board meeting of FY 2025-2026 held on February 9, 2026.
Capital Restructuring Details
The capital reduction involves a significant restructuring of the company's equity base as per the resolution plan approved by NCLT order dated November 18, 2025. The restructuring will transform the existing paid-up capital structure substantially.
| Parameter: | Current Structure | Proposed Structure |
|---|---|---|
| Total Equity Shares: | 1,02,77,200 | 5,00,000 |
| Face Value per Share: | Rs.10 | Rs.10 |
| Public Shareholding: | 1,00,98,748 shares | 25,000 shares |
Shareholding Allocation Under Resolution Plan
The restructured capital of 5,00,000 equity shares will be distributed among different stakeholders as per the approved resolution plan. The allocation reflects the company's reorganization under the insolvency resolution process.
| Stakeholder: | Allocation |
|---|---|
| Public Shareholders: | 25,000 equity shares |
| Successful Resolution Applicant: | 4,25,000 equity shares |
| Goenka Business & Finance Limited: | 50,000 equity shares |
Key Terms and Conditions
Under the capital reduction scheme, public shareholders holding 1,00,98,748 equity shares of Rs.10 each will receive 25,000 equity shares of Rs.10 each in totality, distributed proportionally based on their existing shareholding. Any fractional equity shares will be reduced to zero, decreasing the capital accordingly, with no cash consideration paid for such fractions.
The financial creditor, Goenka Business & Finance Limited, will receive 50,000 equity shares of Rs.10 each in addition to an upfront cash component as specified in the approved resolution plan.
Board Meeting Details
The board meeting was conducted through video conferencing and other audio-visual means in compliance with the Companies Act 2013 provisions. The meeting commenced at 02:00 P.M. and concluded at 02:30 P.M. on February 9, 2026, with the primary agenda being the fixation of the record date for the capital reduction process.
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