OCL Iron and Steel: Implementation Of The Approved Resolution Plan Of OCL Iron And Steel Limited ('Company') (Hereinafter Referred As 'Corporate Debtor') Pursuant To The Order Of The Hon'Ble National Company Law Tribunal Cuttack Bench ('NCLT')

Post the approval of Resolution Plan with NCLT we wish to inform you that as part of the process involved in the implementation of the approved Resolution Plan the Monitoring Committee in consultation with the successful Resolution Applicant has approved the following:1. Re-organization of the capital structure of the Corporate Debtor2. The Monitoring Committee has approved the appointment of individuals as proposed by the Resolution applicant as the directors of the Company with effect from 04th May 2023 to hold office up to the conclusion of the next Annual General Meeting of the Company.3. In accordance with the provisions of the Approved Resolution Plan the Monitoring Committee has taken on record the vacation of office of the existing directors of the company with effect from the Effective Date i.e. 04th May 2023.4. Formation of a Auto Division Sale Committee 5. Delisting of the Corporate Debtor6. Handover of the Company