Videocon Industries : Approval of Resolution Plan and Delisting of Shar
06/16/2021 | 11:24am EDT
Date: 15th June 2021
National Stock Exchange of India Limited
25th Floor, New Trading Ring,
Fifth Floor, Plot No. C/1, G Block,
P.J. Towers, Dalal Street,
Bandra Kurla Complex,
Fort Mumbai: 400001
Sub.: Intimation under Regulation 42 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirement) Regulations, 2015 (the 'SEBI Listing Regulations') pursuant to the approval of the Resolution Plan of Videocon Industries Limited ("Company") forming part of consolidated corporate insolvency resolution process of 13 Videocon group entities pursuant to the order of the Hon'ble National Company Law Tribunal, Mumbai (NCLT) under section 31 of the Insolvency and Bankruptcy Code, 2016 (IBC)
Ref.: Synopsis on Record Date for delisting of equity shares
This is in reference to and in furtherance of our earlier intimations dated 8th June, 2021 and 15th June, 2021, intimating interalia approval of Resolution Plan of Videocon Industries Limited ("Company") pursuant to the order of the Hon'ble National Company Law Tribunal, Mumbai ("NCLT") under section 31 of the Insolvency and Bankruptcy Code, 2016 (IBC) (the "NCLT Order").
Pursuant to Regulation 42 of the Listing Regulations, it is further notified that the Company has fixed Friday, 18th June 2021 as the Record Date for the purpose of delisting of Equity Shares from BSE and NSE.
Synopsis on Resolution Plan approved by NCLT
Details of NCLT Order approving the Resolution Plan:
The Hon'ble National Company Law Tribunal (NCLT), Mumbai, in the matter of IA 196 of 2021 in CP (IB) 02/MB/C-II/2018 and CP (IB) 01/MB/C-II/2018 and CP (IB) 508/MB/C-II/2018 and CP (IB) 509/MB/C-II/2018 and CP (IB) 507/MB/C-II/2018 and CP (IB) 511/MB/C-II/2018 and CP (IB) 510/MB/C-II/2018 and CP (IB) 562/MB/C-II/2018 and CP (IB) 512/MB/C-II/2018 and CP (IB) 560/MB/C-II/2018 and CP (IB) 528/MB/C-II/2018 and CP (IB) 564/MB/C-II/2018 and CP (IB) 563/MB/C-II/2018 approved the Resolution Plan submitted to the said Adjudicating Authority by Twin
VIDEOCON INDUSTRIES LIMITED
R e g i s t e r e d O f f i c e
171 Mittal Court, 'C' wing, 17th
14KM Stone, Aurangabad-Paithan
Videocon Tower, 12th Floor, Rani
Floor, Nariman Point, Mumbai -
Road, Village Chittegaon, Taluka
Jansi Marg, E-1 Jhandewa Ion
Extn, New Delhi - 110055 India
T (+91-11) 4159 3100
T (+91-44) 2834 3180
T (+91-22) 6611 3500
T (+91 - 2431) 251501 - 2
F (+91-11) 41593150/ 23616593
F (+91-44) 2834 0950
F (+91 - 2431) 251501
Star Technologies Limited ("Resolution Applicant"). The said order was pronounced on 8th June, 2021 and uploaded on NCLT website on 14th June, 2021.
Record Date and Purpose:
As an integral part of the Resolution Plan the Equity Shares of the Corporate Debtor i.e. Videocon Industries Limited shall be delisted from BSE Limited and National Stock Exchange of India Limited in accordance with the order of the NCLT.
The company hereby gives intimation to the Stock Exchanges fixing the Record Date as Friday, 18th June 2021 for the purpose of delisting of its equity shares from BSE Limited and National Stock Exchange of India Limited.
Details of entitlement of Equity Shareholders:
As an integral part of the Resolution Plan, the entire Issued, Subscribed and Paid‐up Equity Share Capital of the Corporate Debtor i.e. Videocon Industries Limited shall stand delisted from BSE Limited and National Stock Exchange of India Limited, without payment of any consideration to the shareholders.
You are requested to take on record and disseminate the same on your website.
For Videocon Industries Limited
Digitally signed by Samridhi Kumari Date: 2021.06.15 19:03:05 +05'30'
Videocon Industries Ltd. published this content on 15 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 June 2021 15:23:01 UTC.