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TICL Re-classifies 5 Promoter Entities to Public Category Following IBC Resolution
Twamev Construction and Infrastructure Limited (formerly Tantia Constructions) has applied to stock exchanges for the re-classification of five promoter entities to the public category. This move is part of the Resolution Plan approved under Section 31 of the Insolvency and Bankruptcy Code (IBC). The entities include individual promoters Mr. Ishwari Prasad Tantia and Mr. Rahul Tantia, along with three corporate entities. The Board of Directors had previously approved this request on May 27, 2025, as the company transitions post-insolvency.
Key Highlights
Application filed for re-classification of 5 promoter/promoter group entities to the public category.
Action taken pursuant to a Resolution Plan approved under Section 31 of the IBC, 2016.
Promoters involved include Mr. Ishwari Prasad Tantia and Mr. Rahul Tantia.
Corporate entities Nigolice Trading, EDCL Infrastructure, and Tantia Financial Services are also being re-classified.
The Board of Directors initially approved this re-classification request on May 27, 2025.
💼 Action for Investors
Investors should note this as a procedural step in the company's restructuring post-IBC. Monitor the final approval from BSE and NSE to confirm the updated shareholding structure.