Garodia Chemicals to Extinguish 51.79% Promoter Shareholding Under NCLT-Approved Resolution Plan

1 min read Updated on 28 Nov 2025, 09:14 PM

Reviewed by

Naman SScanX News Team

Overview

Garodia Chemicals Limited is set to cancel 37,28,800 equity shares held by promoters, reducing their shareholding from 51.79% to 0%. This action is part of a Base Resolution Plan approved by the NCLT Mumbai Branch. The record date for this share extinguishment is set for December 10, 2025, with no compensation to be paid to the promoters. This move marks a significant restructuring of the company's ownership structure.

*this image is generated using AI for illustrative purposes only.

Garodia Chemicals Limited has announced a significant restructuring of its ownership structure as part of a Base Resolution Plan approved by the National Company Law Tribunal (NCLT), Mumbai Branch. The company is set to cancel a substantial portion of its promoter-held shares, marking a notable change in its shareholding pattern.

Key Details of the Share Cancellation

Aspect	Details
Shares to be Cancelled	37,28,800 Equity Shares
Face Value	Rs. 10/- each, fully paid up
Current Promoter Shareholding	51.79%
Post-Cancellation Promoter Shareholding	0%
Record Date	December 10, 2025
Compensation to Promoters	No payment

Resolution Plan and Implementation

The share extinguishment is being executed as part of the Base Resolution Plan approved by the NCLT Mumbai Branch on February 24, 2025. This move represents a significant step in the company's restructuring process, effectively reducing the promoter and promoter group's stake in the company to zero.

Procedure and Timeline

The company's Monitoring Committee has fixed December 10, 2025, as the record date for the extinguishment and reduction of shares held by the existing promoters and promoter group. This decision comes in line with Regulation 42 and Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Implications for Shareholders

This corporate action will lead to a complete overhaul of Garodia Chemicals' ownership structure. While the promoter group will see their entire shareholding extinguished, the impact on other shareholders and the company's future direction remains to be seen.

Regulatory Compliance

The company has duly informed the BSE Limited about this development, adhering to the necessary disclosure requirements under SEBI regulations. This transparency ensures that all stakeholders are informed about this significant change in the company's capital structure.

Investors and stakeholders of Garodia Chemicals Limited are advised to take note of this important corporate action and its potential implications on the company's future governance and operations.

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