Whalesbook
Radha Madhav Corporation Ltd has seen its promoter, Vijay Patel, declare zero share encumbrance as of March 31, 2026. This declaration aligns with the company's efforts to establish a clean financial slate following a significant restructuring plan approved by the National Company Law Tribunal (NCLT).
The NCLT-Ahmedabad had approved Radha Madhav Corporation's resolution plan on August 1, 2022. A key outcome of this plan was a drastic reduction in the company's existing share capital. On September 29, 2022, over 9.12 crore shares were cancelled, reducing the total outstanding capital to just 6.82 lakh shares. Subsequently, the company allotted new shares, totalling approximately 1.27 crore shares, on September 29, 2022, and December 26, 2022, as part of the revival process.
While the promoter's declaration signals a cleared balance sheet for him, the company's overall path forward hinges on the pending listing of these newly allotted shares. Approval from the NSE and BSE for the revised, reduced share capital is still awaited. Until this listing is official, the current shareholding patterns registered with depositories like NSDL and CDSL may not accurately reflect the company's true state. The successful listing is seen as crucial for restoring investor confidence and re-establishing market liquidity for Radha Madhav Corporation. Investors will be closely watching for any further announcements regarding the dematerialization and trading of these shares.