Shri Ram Switchgears Approves Capital Restructuring, Allots 95% To New Promoter

Board implemented the NCLT resolution plan: cancelled 60,87,585 promoter shares, reduced public shares to 25,000, and allotted 4,75,000 shares to Alaknanda at Rs 10. Alaknanda becomes promoter with 95% ownership; paid-up capital falls from Rs 10.0 Cr to Rs 0.5 Cr, while public holding becomes 5%. Auditors issued an adverse opinion; Rs 11.8 Cr interest was unrecognised. Slump sale of the operating undertaking remains pending, leaving the listed entity's future uncertain.