Sintex Plastics Technology Limited — Others, 23-04-2025: Corporate Insolvency Resolution Process

Sintex Plastics Technology Limited has confirmed that the National Company Law Tribunal (NCLT) has allowed the delisting of the existing equity shares as part of the company's liquidation process. The NCLT also permitted the company not to list new shares following its acquisition by Durgesh Infrastructure Private Limited and its affiliates, who successfully bid ₹20.63 crore for the company. This development enables the acquirers to proceed with the revival of Sintex as a going concern without the previous equity complications.

The decision is expected to streamline operations and may positively affect investor sentiment by indicating a clearer path forward for the company's restructuring. The elimination of previous shares removes potential liabilities, aligning with the acquirers' strategy to establish a stable foundation for future operations.