NCLT Approves Resolution Plan Submitted by Advaita Trading Private Limited
The NCLT Mumbai Bench-I has pronounced an order dated September 24, 2026 approving the resolution plan for the company, which is under the Corporate Insolvency Resolution Process.
By ScoutQuest · · 1 min read
- NCLT Order Date
- September 24, 2026
- Approving Authority
- NCLT Mumbai Bench-I
- Resolution Applicant
- Advaita Trading Private Limited
- Legal Provision
- Section 31 of the Insolvency and Bankruptcy Code, 2016
- Case Reference
- IA(IBC)(Plan)/32/MB/2026 in CP(IB) No. 610 of 2021
What was announced
The Hon'ble National Company Law Tribunal, Mumbai Bench-I, has pronounced an order dated September 24, 2026 approving the resolution plan for Zicom Electronic Security Systems Limited, which is under the Corporate Insolvency Resolution Process (CIRP).
- The plan was submitted by Advaita Trading Private Limited, described as the successful Resolution Applicant.
- The order is passed under Section 31 of the Insolvency and Bankruptcy Code, 2016.
- The case reference is IA(IBC)(Plan)/32/MB/2026 in CP(IB) No. 610 of 2021.
What this means in simple terms
When a company cannot repay its dues, it may be admitted into insolvency proceedings before the NCLT. A Resolution Professional runs the company during this period and invites plans from parties willing to take it over and settle claims. Once the Tribunal approves a plan under Section 31, that plan becomes binding on the company, its creditors, employees, members and other stakeholders, and the approved applicant takes the company forward on the terms set out in the plan.
Who signed
The intimation to BSE and NSE was made by Chirag Shah, Resolution Professional, under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.
What shareholders may watch next
The treatment of existing shareholders and creditors depends entirely on the terms of the approved resolution plan and the contents of the NCLT order. Investors may look for the detailed order and any follow-on disclosures on capital structure, change in control and management for specifics.
Perception-wise, the conclusion of a long-running insolvency proceeding through an approved plan removes uncertainty about the outcome of the process, while the actual effect on public shareholders will be determined by the plan's terms.
Also from Zicom Electronic Security Systems
Monitoring Committee constitution report shared with NCLT Mumbai Bench-I
24 Oct 2026
NCLT Order on Central Bank of India's Plea Over Resolution Plan Distribution; Plan Approved Under Section 31
25 Sep 2026
NCLT approves resolution plan of Advaita Trading under IBC; total plan value Rs. 17,75,54,841
25 Sep 2026
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