Zicom Electronic Security Systems Ltd. Resolution Plan Approved by NCLT
The NCLT has approved the resolution plan for Zicom Electronic Security Systems Ltd. submitted by Advaita Trading Private Limited. The plan's total value is ₹17.76 crore. It details payments to creditors and employees, and outlines the future management structure. The implementation is expected within 30 days.
The approval of the resolution plan signifies a major turning point for the company, potentially leading to its operational revival and resolution of financial distress, which has a high impact on stakeholders.
The approval of the resolution plan by the NCLT marks a significant positive step towards the revival of the company after a prolonged insolvency process.
Zicom Electronic Security Systems Limited, currently undergoing Corporate Insolvency Resolution Process (CIRP), has received approval for its resolution plan from the Hon'ble National Company Law Tribunal (NCLT), Mumbai Bench-I. The order, pronounced on September 24, 2026, approves the resolution plan submitted by Advaita Trading Private Limited, the successful Resolution Applicant. This development follows a lengthy and complex insolvency process that commenced on July 29, 2022. The resolution plan, with a total value of ₹17,75,54,841, outlines the payment schedule for various stakeholders, including secured and unsecured financial creditors, operational creditors, and employees. Advaita Trading Private Limited has demonstrated funding sources, including bank balances, investments, and plans to dismantle non-core assets. The company's future management and control will be under the new board appointed by the Resolution Applicant, with provisions for CEO, CFO, Company Secretary, and auditors. The plan also addresses pending litigation concerning the brand name "ZICOM", with specific clauses for recovery and distribution of any amounts realized. The implementation of the resolution plan is expected to be completed within 30 days from its approval.
What to do with a filing like this
Zicom Electronic Security Systems Limited filed this with the NSE as a statutory disclosure, categorised under corporate insolvency resolution process. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by Zicom Electronic Security Systems Limited. Read the original for the full detail.