Zicom Electronic Security Systems Limited (ZICOM)
📈 Share price & events
📢 Recent Corporate Announcements
Zicom Electronic Security Systems Limited's Resolution Professional (RP), Chirag Rajendrakumar Shah, has submitted the audited standalone financial statements for FY 2025-26 as mandated under SEBI LODR. The filing discloses that IDBI Bank declared the company a wilful defaulter on September 25, 2024, for defaults amounting to ₹47,052.41 Lakh (₹470.52 crore) covering working capital, loans, and corporate guarantees. The RP took over management on September 4, 2025, succeeding the erstwhile RP, and noted severe historical documentation constraints following the resignations of the CFO (March 15, 2021) and CS (February 28, 2022).
- Declared wilful defaulter by IDBI Bank on September 25, 2024, for a default amount of ₹47,052.41 Lakh
- Current RP Chirag R. Shah took over custody and control of operations effective September 4, 2025
- Submission covers standalone audited financial statements for the financial year ended March 31, 2026
- Absence of key personnel noted, with CFO having resigned on March 15, 2021, and CS on February 28, 2022
- No provision or calculation made in the financial statements for current income tax or deferred tax
NCLT Mumbai Bench-I has approved the resolution plan submitted by Advaita Trading Private Limited for Zicom Electronic Security Systems Limited under Section 31 of the IBC. Concurrently, the Tribunal disposed of an application by Central Bank of India (holding ~₹74.55 crore admitted secured claims and a 12.48% voting share), ruling that dissenting financial creditors are entitled to a minimum payout equal to the liquidation value of their security interest. The Resolution Professional was instructed to recalculate distributions accordingly, while total liquidation value of the company is estimated between ₹13.50 crore and ₹14.99 crore.
- Resolution plan by Advaita Trading Private Limited approved by NCLT on September 24, 2026
- CoC approved the revised plan with a 75.46% voting share in voting concluded February 18, 2026
- Central Bank of India claimed ~₹74.55 crore and sought ~₹9.19 crore liquidation value for exclusive security vs ~₹2.83 crore allocated
- Corporate Debtor liquidation value assessed in the range of ₹13.50 crore to ₹14.99 crore
- NCLT directed RP to recompute payments ensuring dissenting creditors receive minimum liquidation value of their security interest
Zicom Electronic Security Systems announced the conclusion of e-voting for its 47th Committee of Creditors (CoC) meeting held on August 20, 2026. Key resolutions passed include approving the Resolution Professional's fees from June 2026 onwards, legal appointments for proceedings before the NCLT and NCLAT, and ratification of CIRP costs incurred between April 20, 2026, and August 18, 2026. The CoC also approved legal and accounting professionals for tax return filings (AY 2021-22 to 2025-26) and due diligence on the submitted Resolution Plan.
- CoC approved CIRP costs incurred between 20.04.2026 and 18.08.2026
- E-voting concluded on September 11, 2026, following the 47th CoC meeting held on August 20, 2026
- Appointed Khaitan Legal Associates for due diligence on Resolution Plan submitted before NCLT Mumbai
- Approved CA Prashant Shah for filing delayed Income Tax Returns from AY 2021-22 to 2025-26
- Approved advocate appointments to represent resolution plan and oppose NCLAT appeal by Nakshatra Asset Ventures
Company profile
Financial Performance
Financial analysis data not yet available for this company.
Operational Drivers
Operational analysis data not yet available for this company.
Strategic Growth
Strategic growth analysis not yet available for this company.
External Factors
External factors analysis not yet available for this company.
Regulatory & Governance
Regulatory analysis not yet available for this company.
Risk Analysis
Risk analysis not yet available for this company.
