Baron Infotech Ltd

Key developments

• NCLT Hyderabad approved Innopark's Resolution Plan on Sept 8, 2026.
• PurpleTalk India Private Limited merged into Baron Infotech Limited as part of the approved plan.
• Monitoring Committee's 2nd meeting (Sept 22, 2026) noted new board appointments by SRA in consultation with the Transferor.
• MC approved payments towards CIRP costs and to operational and financial creditors.
• Shift of Registered Office to the Transferor Company's office and opening of new bank accounts.
• Five new directors appointed on 22-09-2026, subject to shareholders' approval.
• Names: Sreeram Reddy Vanga, Sridhar Muppidi, D Gautam Sawang, B V Papa Rao, Ramachandra Rao Damera.
• Implementation of the approved plan underway; CIRP ongoing.
• Annexure-1 disclosures under SEBI LODR enclosed.
• Meeting concluded at 4:50 PM IST.

Monitoring Committee update

• 2nd Monitoring Committee meeting on 22 Sep 2026 at 11:30 AM to approve operational and statutory matters.

AGM extension under CIRP

• Registrar of Companies, Telangana approved a 3-month extension for AGM to December 29, 2026 (AFA valid 27/11/2025–31/12/2026).

Monitoring Committee update

• NCLT Hyderabad Bench approves the Resolution Plan.
• First Monitoring Committee meeting held on Sep 12, 2026.
• INR 2,69,03,046.49 received for CIRP costs.
• Payments to creditors from Innopark (India) Private Limited approved.
• Fees of MC Chairperson approved.
• CIRP expenses reimbursement approved.
• Payment schedule for operational and financial creditors approved.
• Escrow account opened.
• Implementation timetable established.
• Share capital restrictions and BSE compliance reviewed.

Monitoring committee formation

• NCLT Hyderabad approved the resolution plan on Sep 8, 2026.
• Monitoring Committee formed with Resolution Professional as chair, plus CoC and Innopark SRA representatives.
• First Monitoring Committee meeting set for Sep 12, 2026 at 11:00 am.
• Agenda includes noting NCLT orders, implementing the Resolution Plan, and CIRP cost receipts.

Approval Overview

• Resolution Plan approved by the Tribunal; binding on the Corporate Debtor and all stakeholders.

Key Plan Features

• New controlling entity: Innopark (India) Private Limited; CoC unanimously supported.
• PurpleTalk merger with Baron Infotech included as a qualitative improvement.
• Equity allotment to unsecured creditors Rs 90,00,000 and to public shareholders Rs 44,65,400.
• Total equity infusion to meet claims: Rs 1.3465 crore.
• Upfront payments to CIRP costs and creditors total Rs 2.69 crore.
• Unsecured financial creditors Rs 1,28,54,428; related party Rs 25,48,786.
• Operational creditors (other than workmen) Rs 92,53,232.49.
• Total funds infusion and debt/equity outlay: Rs 131.91 crore.
• Debt infusion planned: Rs 79 crore.
• Strategic investor funding: Rs 13.30 crore.
• Equity allotment to public shareholders within 30 days: Rs 44,65,400.
• MoA/AoA amendments and ROC filings required to implement plan.
• Performance Bank Guarantee remains until full implementation.
• Moratorium under Section 14 to cease on approval.

Financial Impact & Valuation

• Pre- and post-resolution net worth not disclosed.
• Fair value and liquidation value of assets not disclosed.
• Recovery rates for creditors not disclosed.
• Impact on key financial ratios not disclosed.

Implementation & Monitoring

• Capex and working capital infusion within two months; debt infusion within two months.
• Strategic investor funding within 30 days of approval.
• Equity allotment to meet claims within 30 days.
• MoA/AoA amendments and ROC filings to implement plan.
• Process Advisor role acknowledged; oversight by resolution professional and CoC.

Other Material Information

• Regulatory approvals and waivers may be required.
• Performance guarantees and moratorium reliefs noted; liabilities extinguished per plan.
• 29A scrutiny and 63 Moons litigation discussed; not a disqualification.

CIRP status and orders

• CIRP ongoing; NCLT Hyderabad reserved orders on 02 Sep 2026 in respect of IBC Plan petitions.
• Resolution Professional Dr. Ahalada Rao participated; RP filed as applicant in Plan petitions.
• Intervention Petition IA/IBC Plan/03/2026 and IA 772/2026 heard; orders reserved.
• Parties include Avantine Software Pvt Ltd vs Baron Infotech Limited in IBC.

Current status

• CIRP ongoing for Baron Infotech Ltd in Avantine Software matter.
• Hearing adjourned to 02.09.2026.
• No resolution plan approval reported; proceedings remain in CIRP.

Key participants

• Resolution Professional Dr. Ahalada Rao involved in the proceedings.
• Counsel for applicant Naresh Kumar Sangam attended.

Hearing details

• IA(IBC)(Plan)/03/2026, IA(IBC)/772/2026, and Interv. Petition adjourned.
• Hearing before regular bench continued to 02.09.2026.
• No change in chronology beyond adjournment.