The Hon'ble National Company Law Tribunal (NCLT), Mumbai, has approved the resolution plan submitted by Ashdan Properties Private Limited for Rolta India Limited. This approval, granted on December 15, 2025, follows the NCLT's earlier approval of the resolution plan dated April 22, 2024, along with its financial proposal and addendum. As per the approved resolution plan, Rolta India's consolidated net worth, which was negative at approximately ₹1,03,16,58,00,00,000 as of March 31, 2025, will be determined post-implementation. The company's consolidated total assets for FY 2024-25 were approximately ₹27,38,38,00,000. The plan entails acquiring Rolta India as a going concern, with all existing assets continuing to be reflected in its books. Upon payment of the total plan consideration of ₹900,00,00,000, all encumbrances and charges on the company's assets will be released. The resolution plan also details the settlement of various creditor categories, including CIRP costs, workmen, employees, government and statutory authorities, operational creditors, dissenting financial creditors, and secured and unsecured financial creditors, with significant amounts allocated to secured financial creditors (₹808,55,20,298) and unsecured financial creditors (₹64,20,00,000). The shareholding pattern will change significantly. Prior to implementation, promoters held 2.31% and the public held 97.69%. Post-implementation, Elitekey Properties Private Limited, an entity managed by Ashdan Properties Private Limited (51%) and DBG Estates Holdings LLP (49%), is proposed to hold 100% of the equity. The entire existing share capital of Rolta India will be cancelled without any payment to current shareholders. Ashdan Properties Private Limited will implement the plan through Elitekey Properties Private Limited. The business strategy involves Ashdan and/or Elitekey infusing additional funds as required for the company's maintenance and revival. A key aspect of the plan is the proposed delisting of Rolta India's equity shares from the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), and its conversion from a public limited company to a private limited company.
