WINSOME YARNS LTD.

Winsome Yarns Limited's Board of Directors met on July 16, 2026, to approve a significant corporate restructuring. This includes the reduction and cancellation of existing equity shares held by erstwhile promoters and public shareholders, effective July 31, 2026. Concurrently, the company will issue 25,00,000 equity shares at a face value of ₹10 each to Dhananya Capital Private Limited, making them the new promoters with a 95% post-issuance shareholding. The board also approved amendments to the MOA and AOA, subject to shareholder approval, and constituted various board committees including Audit, Nomination & Remuneration, Stakeholders Relationship, and Risk Management.

Winsome Yarns Limited has announced Friday, July 31, 2026, as the record date for the reduction, cancellation, and extinguishment of its existing paid-up share capital, as per the NCLT Order dated April 16, 2026. This corporate action will significantly reduce the shareholding of erstwhile promoters from approximately 2.73 crore shares to zero. Existing public shareholding will also be reduced from about 4.33 crore shares to 1,31,579 shares. The record date is crucial for implementing the approved Resolution Plan.

Winsome Yarns Limited's Board of Directors, in a meeting held on July 16, 2026, has approved the alteration of the Object Clause of its Memorandum of Association (MOA) to facilitate business expansion. The board also approved the adoption of a new set of MOA and Articles of Association (AOA) compliant with the Companies Act, 2013. These changes are subject to shareholder approval and are in line with the company's approved resolution plan and NCLT Order dated April 16, 2026. The alteration includes expanding into real estate development, construction, and related services.

Winsome Yarns Limited's Board of Directors met on July 16, 2026, to approve a significant share capital reduction and issuance of new equity shares as per an NCLT-approved resolution plan. The plan involves reducing erstwhile promoters' shareholding from 2,73,39,609 to 0 shares and existing public shareholding from 4,33,67,620 to 1,31,579 shares. A record date of July 31, 2026, was fixed for this reduction. Additionally, the company approved the issuance of 25,00,000 equity shares to Dhananya Capital Private Limited, making them the new prospective promoter with a 95% post-preferential shareholding. The board also approved the formation of various committees and adoption of amended MOA and AOA, subject to shareholder approval.

Winsome Yarns Ltd has announced a Board of Directors meeting scheduled for July 16, 2026. The primary agenda items include the fixation of a record date for the reduction, cancellation, and extinguishment of 95% of existing equity shares held by promoters and public shareholders, as per an NCLT order. The meeting will also discuss the issuance of equity shares to prospective allottees in compliance with the NCLT order and SEBI regulations. Additionally, the trading window for designated persons and their immediate relatives will be closed until 48 hours after the announcement of the meeting's outcome.

Winsome Yarns Limited has announced the vacation of office for Mr. Manish Bagrodia, Non-Executive - Non-Independent Director, effective July 10, 2026. This action is in compliance with the approved resolution plan and an NCLT Order dated April 16, 2026. The Corporate Insolvency Resolution Process (CIRP) was initiated following a petition by Edelweiss Asset Reconstruction Company Limited. Mr. Sanjay Gupta was appointed as the Interim Resolution Professional (IRP), later succeeded by M/s. ARCK Resolution Professionals LLP as the Resolution Professional (RP). Since the initiation of CIRP, the powers of the Board of Directors have been suspended and vested with the IRP/RP.

Winsome Yarns Limited has announced the appointment of six new directors to its Board of Directors. This follows the admission of a petition by Edelweiss Asset Reconstruction Company Limited under the Insolvency and Bankruptcy Code, 2016, leading to the appointment of an Interim Resolution Professional and subsequently a Resolution Professional. The powers of the Board were suspended during this period. The appointments were made by the duly constituted Monitoring Committee on June 23, 2026, in compliance with NCLT orders and listing regulations. The new directors include Mr. Vipan Kumar (Executive), Mr. Avnish Sarvapriya Bansal (Chairperson, Non-Executive), Mrs. Parul Bansal (Women Non-Executive), and three Non-executive Independent Directors: Mr. Mahesh Fogla, Mr. Sanjeev Nahar, and Mr. Bibhudutta Satpathy. Detailed disclosures for each appointee have been provided.

Winsome Yarns Limited has announced a delay in the submission of its audited financial results for the quarter and year ended March 31, 2026. The delay is attributed to the ongoing Corporate Insolvency Resolution Process (CIRP) initiated in December 2023. The company's board powers are suspended, and the Resolution Professional (RP) is managing operations. The CIRP has led to a significant reduction in operational capacity and employee strength, impacting the ability to finalize financial statements. The RP is working to reconcile and verify data and will submit the results as soon as possible, citing factors beyond their control.

Winsome Yarns Ltd has announced the approval of its Resolution Plan by the Hon'ble Adjudicating Authority under the Insolvency and Bankruptcy Code, 2016. This plan extinguishes all pre-CIRP liabilities and releases company assets from all encumbrances, security, and liens upon settlement with financial creditors. The company's pre-CIRP net worth as of FY 2022-23 was a negative ₹40,897.33 Lakh. Post-CIRP, the company will continue as a going concern. Existing shareholders will see their equity written down significantly, retaining only a 5% stake on a pro rata basis, with no fresh equity issued to them. The Resolution Applicant will infuse ₹2.5 Crores for unpaid CIRP costs, receiving fresh equity share capital.

The National Company Law Tribunal (NCLT), Chandigarh Bench, has approved the resolution plan for Winsome Yarns Limited. This approval, dated April 16, 2026, follows an earlier disclosure on April 17, 2026, and is in accordance with sections 30(6) and 31(1) of the Insolvency & Bankruptcy Code, 2016. The resolution plan was submitted by Mohini Health & Hygiene Limited, which is now the Successful Resolution Applicant. The Corporate Debtor, Winsome Yarns, was admitted into Corporate Insolvency Resolution Process (CIRP) on December 22, 2023, following a petition by Edelweiss Asset Reconstruction Company Limited. This development marks a significant step towards the resolution of the company's financial distress.