Aqylon Nexus Limited Responds to Clarification Request on Financial Results
Aqylon Nexus Limited will pay ₹24 Crores to financial creditors as per NCLT-approved resolution plan. The company sold its stake in Westwind Realtors Private Limited and non-core assets for ₹18.20 Crores to repay debt. Consolidated results are not applicable from Q3 2025. Total fund mobilization is ₹61.10 Crores.
The sale of non-core assets and the repayment of a significant debt amount (₹24 Crores) are material events that will impact the company's financial structure and operations. The cessation of consolidated financial results also signifies a change in reporting.
The announcement details a company restructuring and asset sale as part of a resolution plan approved by the NCLT. While it outlines a path forward, the context of insolvency and debt repayment suggests a neutral sentiment as it's a necessary step rather than a growth-oriented announcement.
Aqylon Nexus Limited (AQYLON), formerly known as Sri Adhikari Brothers Television Network Limited, has issued a clarification regarding its financial results and the sale of its non-core assets. The company is undergoing a Resolution Plan approved by the National Company Law Tribunal (NCLT) under the Insolvency and Bankruptcy Code, 2016. As per the plan, the company is required to make payments aggregating to ₹24 Crores to its Financial Creditors within 7 to 18 months from the effective date of the Resolution Plan.
To comply with the NCLT's directions for debt reduction, the company is permitted to sell its non-core assets. These include premises on the 1st, 4th, and 5th floors of the Adhikari Chambers Building in Mumbai, along with the underlying equity shares of M/s. Westwind Realtors Private Limited. The proceeds from these sales will be used for repayment of financial creditors.
The company has completed the sale of its 35.68% stake in Westwind Realtors Private Limited (WRPL) to Sri Adhikari Brothers Assets Holding Private Limited (SABAHPL), a related party. This transaction, approved by shareholders via postal ballot on May 27, 2025, resulted in WRPL ceasing to be a subsidiary of Aqylon Nexus Limited effective August 22, 2025. Consequently, Consolidated Financial Results are no longer applicable from the quarter ending September 2025.
The sale of the non-core assets comprises three parts: premises on the 1st floor for ₹6.06 Crores, the 4th floor for ₹6.07 Crores, and the 5th floor for ₹6.07 Crores. The total consideration for these sales amounts to ₹18.20 Crores. These transactions are considered arm's length and have been approved by the shareholders.
The Resolution Plan outlines a total fund mobilization of ₹61.10 Crores within 30 months, including equity infusion, debt, funds from AIF/NBFC, internal accruals, and proceeds from the sale of non-core assets. The plan also details the resolution of financial creditors, statutory dues, operational creditors, and workmen/employees, with specific timelines and amounts allocated for each.
What to do with a filing like this
Aqylon Nexus Limited filed this with the NSE as a statutory disclosure, categorised under other corporate actions. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by Aqylon Nexus Limited. Read the original for the full detail.