'Hon''ble NCLT, Kolkata Bench Order dated 27 March, 2025 w.r.t approval of Scheme of Amalgamation of ACIL…
As filed · Ramkrishna Forgings Limited has informed the Exchange regarding 'Hon''ble NCLT, Kolkata Bench Order dated 27 March, 2025 w.r.t approval of Scheme of Amalgamation of ACIL Limited, Wholly-owned Subsidia
What happened
FactRamkrishna Forgings Limited has informed the Exchange regarding 'Hon''ble NCLT, Kolkata Bench Order dated 27 March, 2025 w.r.t approval of Scheme of Amalgamation of ACIL Limited, Wholly-owned Subsidiary with the Company has been filed with Registrar of Companies and accordingly ACIL Limited ceases to be a Wholly-owned Subsidiary of the Company.'. Phiroze Jeejeebhoy Towers,. Companies Act, 2013 and the rules framed thereunder has been approved by the Hon’ble NCLT,.
Why it matters
CapitSignal interpretationOnce an insolvency process is admitted, control of the company passes from the board to a resolution professional and equity ranks last in any recovery.
What management said before
Prior statements by this company that CapitSignal has recorded changing.
Capex
Withdrawnif we have a 100% capacity utilization, it will be somewhere around Rs. 9,000 crores of sales on this.
The ramp-up of our casting operations, alongside the commissioning of new capacities and expansion of value-added offerings, is further broadening our growth platform and enhancing our ability to serve customers across a broader range of applications.
Change
FactImplication
CapitSignal interpretationWatch next
Fact- Admission or rejection of the application by the tribunal
- Appointment of a resolution professional
- Claims admitted against the company
- Total guidance for the capex in this year is somewhere around Rs. 350 crores. (management committed by FY27)
- We have already guided in our last call, we will reduce at least Rs. 500 crore of leverage in this financial y (management committed by FY27)
Evidence
- Ramkrishna Forgings Limited has informed the Exchange regarding 'Hon''ble NCLT, Kolkata Bench Order dated 27 March, 2025 w.r.t approval of Scheme of Amalgamation of ACIL Limited, Wholly-owned Subsidiary with the Company has been filed with Registrar of Companies and accordingly ACIL Limited ceases to be a Wholly-owned Subsidiary of the Company.'.(opens the original filing in a new tab)
- Earlier statement · Q1 FY27
- Latest statement · Q1 FY27
How CapitSignal classified this
- Reasoning:
- INSOLVENCY base 93; +5 quantified amount; explicit insolvency/default evidence present; matched on subject
- Matched on:
- the filing's own subject line
- Confidence in the event type:
- 75%