16-Oct-2026 13:29:03
BALKRISHNA PAPER : NCLT ADMITS CAPITAL REDUCTION PETITION
• NCLT Mumbai admits company petition (C.P./214(MB)2026) under Section 66 read with Section 52 of the Companies Act, 2013; petition returnable on 21.01.2027 • Accumulated losses of ₹52.28 Cr to be adjusted first from Securities Premium Reserve of ₹23.29 Cr, balance by reducing equity capital • Equity face value to be cut from ₹10 to Re 1, reducing paid-up equity capital from ₹32.22 Cr to ₹3.22 Cr with no payment or consideration to equity shareholders • Entire ₹110 Cr preference share capital (1.10 Cr 6.5% non-cumulative redeemable preference shares of ₹100 each) to be reduced; consideration payable only when adequate funds are available, till then treated as unsecured non-interest-bearing loan • Accumulated losses as at 30 September 2025 stood at ₹278.39 Cr, falling to ₹226.11 Cr after adjustments; company says it has no major business operations and is evaluating new opportunities including real estate-related activities • Shareholding percentage of equity shareholders unchanged before and after the reduction; company to serve notices on creditors, RoC, SEBI, exchanges and income tax authorities
Balkrishna Paper Mills Ltd
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