NewsOrders & DealsNCLT Mumbai Bench Approves Ashdan Properties' Resolution Plan for Rolta IndiaNCLT Mumbai Bench Approves Ashdan Properties' Resolution Plan for Rolta India
The National Company Law Tribunal (NCLT) Mumbai Bench has orally approved Rolta India Limited's resolution plan under the corporate insolvency resolution process. The plan, submitted by Ashdan Properties Private Limited, includes components from April 22, 2024, to December 15, 2025. A detailed disclosure will follow once the written order is available. Dr. CS Adv Mamta Binani serves as the Resolution Professional for the company.
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Rolta India Limited has received a crucial regulatory approval as the National Company Law Tribunal (NCLT) Mumbai Bench orally pronounced an order on December 15, 2025, approving the company's resolution plan under the corporate insolvency resolution process. This development marks a significant milestone in the company's restructuring efforts under the Insolvency and Bankruptcy Code, 2016.
Resolution Plan Details
The NCLT has approved the resolution plan submitted by Ashdan Properties Private Limited under Section 31 of the Insolvency and Bankruptcy Code, 2016. The comprehensive plan includes multiple components structured over several months:
| Component | Date |
|---|---|
| Original Resolution Plan | April 22, 2024 |
| Financial Proposal | April 22, 2024 |
| Addendum | May 17, 2024 |
| NCLT Oral Approval | December 15, 2025 |
Regulatory Compliance and Disclosure
The company has filed this disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing specifically references Regulation 30(2) read with Clause 16(k) of Para A of Part A of Schedule III of the Listing Regulations. This disclosure follows the company's previous intimation dated August 11, 2024, regarding the application for resolution plan approval with the NCLT.
Next Steps and Written Order
The current disclosure is based on the oral pronouncement by the NCLT. The Resolution Professional, Dr. CS Adv Mamta Binani, has indicated that a detailed disclosure will be made once the written order becomes available. The written order will contain comprehensive details on the treatment of existing securities of the corporate debtor under the approved resolution plan, as required under the Listing Regulations and other applicable laws.
Resolution Professional Details
Dr. CS Adv Mamta Binani serves as the Resolution Professional for Rolta India Limited, registered with IBBI under Registration No. IBBI/IPA-002/IP-N00086/2017-18/10227. Her AFA certification remains valid until December 3, 2026, and she operates from the registered address at Third Floor, Nicco House, 2 Hare Street, Kolkata 700001, West Bengal.
Company Information
Rolta India Limited operates from its registered office at Rolta Tower A, Rolta Technology Park, 224 Street MIDC-Marol, Andheri (East), Mumbai-400093, Maharashtra. The company, incorporated under CIN No. L74999MH1989PLC052384, maintains investor communications through investor@rolta.com and its website www.rolta.com .
