McNally Bharat Engineering Board Approves ₹31.67 Crore Equity Allotment Under NCLT Resolution Plan

February 22, 2025 – McNally Bharat Engineering Company Limited (NSE: MBECL, BSE: 532629) has announced the ratification and approval of an equity allotment as part of its Resolution Plan approved by the Hon’ble NCLT, Kolkata Bench.

Key Approvals from the Board Meeting:​

1. Equity Allotment to Promoter Entity:
   
   • 3,00,00,000 equity shares allotted to Mandal Vyapaar Private Limited
   • Face Value: ₹10 per share
   • Total Investment: ₹30 crore
   • BTL EPC Limited, the Successful Resolution Applicant, nominates this entity.
2. Equity Allotment to Financial Creditors:
   
   • 16,66,667 equity shares allotted to Financial Creditors (non-promoter category)
   • Face Value: ₹10 per share
   • Total Investment: ₹1.67 crore

Board Meeting Highlights:​

• Date: February 22, 2025
• Meeting Start Time: 11:45 AM (IST)
• Meeting Conclusion: 12:30 PM (IST)

This approval aligns with the Resolution Plan approved on December 19, 2023, and reaffirmed on December 3, 2024, by the NCLT, Kolkata Bench.

Strategic Significance:​

• Strengthens the company’s financial restructuring efforts.
• Ensures smooth execution of the revival plan under the NCLT framework.
• Supports capital infusion and operational stability.