Omkar Speciality: NCLT Plan Implemented; Shares Cancelled, ₹5 Cr Equity, CFO Appointed

Omkar Speciality Chemicals Ltd. announced the implementation of its NCLT-approved Resolution Plan. The Monitoring Committee approved the cancellation of all existing equity shares (promoter and public) of INR 10 each, setting April 29, 2026, as the record date. Concurrently, 50,00,000 new equity shares of INR 10 each, totaling INR 5,00,00,000, will be issued at par to IFFAS Kshitij SPV LLP on a private placement basis. The company also approved raising a loan of up to INR 20,00,00,000 from Kshitij Polyline Limited and treating an earnest money deposit of INR 2,190 lakhs as debt/loan under the plan. Additionally, Mr. Mahendra Kumar Jain has been appointed as the new Chief Financial Officer. These actions are part of the company's restructuring following its admission into CIRP in December 2022.