Disclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and…
As filed · Disclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ( SEBI Listing Regulations ) regarding the order passed
What happened
FactRefex Industries Limited has disclosed that the Hon’ble NCLT, Chennai Bench, has ordered meetings for the Secured and Unsecured Creditors and Equity Shareholders of Refex Green Mobility Limited and Refex Industries Limited to consider a proposed Composite Scheme of Amalgamation and Arrangement on August 5, 2026. The requirement for meetings of the Equity Shareholders of Refex Mobility Limited and Refex Green Mobility Limited has been dispensed with. The order was uploaded…
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.
Order Book
DelayedNew order will spill over to next financial year.
Q4 will have a good order book. I mean, we are winning many digital tender now during last four months.
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
- And we are continuously capturing new geography so that we achieve more quantity of the work and also the busi (management committed by FY25)
- Definitely this coming financial year we'll do much better. (management committed by FY25)
Evidence
- Disclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ( SEBI Listing Regulations ) regarding the order passed by Hon'ble NCLT in connection with the Composite Scheme of Amalgamation and Arrangement for convening of meeting(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%