Balkrishna Paper Mills Clarifies NCLT Order on Share Capital Reduction
Balkrishna Paper Mills Ltd has clarified to BSE regarding a corporate announcement filed under Regulation 30 of SEBI LODR Regulations. The company explained that the National Company Law Tribunal (NCLT) has admitted their petition for 'Scheme of Reduction of Share Capital' for hearing, with the next date set for January 21, 2027. The NCLT's order is interim and procedural, directing the company to issue notices and publish newspaper advertisements. The company admitted to inadvertently submitting this interim order under 'Announcement' instead of 'General Update' and is now resubmitting it under the correct head. The original announcement was related to a special resolution passed for share capital reduction, aiming to adjust accumulated losses of ₹52,28,37,029.
Key Highlights
- NCLT admits Balkrishna Paper Mills' petition for share capital reduction.
- Next hearing date for the petition is scheduled for January 21, 2027.
- Company clarifies interim NCLT order was procedural, not a material development.
- Filing error corrected: announcement reclassified from 'Announcement' to 'General Update'.
- Scheme aims to adjust accumulated losses of ₹52.28 Crore.
Price Impact
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