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Thereafter Mr Kuldeep Verma was appointed as the Interim Resolution Professional and subsequently confirmed as the Resolution Professional. As the Resolution Plan could not be finalized within the prescribed timeline, the Committee of Creditors approved the initiation of liquidation proceedings. the Honble NCLAT vide its order dated March 16, 2021, passed the order for liquidation. During the CIRP period, the equity shares of the Company were delisted by the Stock Exchanges. These actions occurred during the moratorium period and were reported as contraventions of Section 14 of the Insolvency and Bankruptcy Code, 2016. Under the Liquidation Regulations, the Liquidator conducted an e-auction for sale of the Company on December 22, 2023. Successful Applicant submitted the highest bid and was declared the successful bidder for acquisition of KS Oils Limited as a going concern. Thereafter Successful Applicant approached the NCLT for requisite directions and approvals for effecting transfer of the Corporate Debtor. The Honble NCLT, Indore Bench, passed an order in this matter on February 3, 2025. Pursuant to the aforesaid order, The new Board was reconstituted and the erstwhile Directors and KMP were deemed to have resigned/vacated office with effect from February 07, 2025. Thereafter the Company filed an application for relisting of its equity shares. The Exchanges thereafter issued a circular withdrawing the delisting, and the status of the equity shares changed from Delisted to Suspended. Pursuant to the NCLT Order, the Company has completed the Reduction and Reconstitution of its Share Capital, The entire shareholding of the erstwhile Promoter and Promoter Group comprising 34602105 equity shares of 1 each was cancelled and extinguished without any consideration and the public shareholding of 424577932 equity shares 92.46 was restructured and reduced to 5 of the total paidup equity share capital by reduction of face value from 1 to 002 per share and consolidation of 50 shares of 002 each into 1 share of 1 Thereafter, the Company has filed the listing application for the new equity shares with the Stock Exchanges, which is presently under consideration and approval is awaited. 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