In continuation to our earlier letter dated 31st July, 2018, we are enclosing herewith the copy of order dated 31st July, 2018 as passed by Honble NCLT, Principal Bench, New Delhi approving the resolution plan as submitted by Mr. Deepak Chaganlal Choudhari and Mr. Jitendra Kumar Chopra being the Resolution Applicants for Amit Spinning Industries Limited (the Company).
The aforesaid Resolution Plan envisages acquisition of up to 90% of ownership of the Company by Resolution Applicant by way of restructuring of share capital / allotment of shares and the subsequent reclassification of the existing promoters of the Company upon acquisition of control by the Resolution Applicant. Such reclassification is an integral part of the Resolution …
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