Starlit Power Systems Limited (formerly known as KDG Properties & Construction Limited) has announced a significant update regarding its corporate restructuring and shareholder engagement. In a Board Meeting held on Friday, December 20, 2024, the company fixed January 3, 2025, as the record date for the allotment of shares to shareholders, marking a key milestone in the implementation of the NCLT-approved resolution plan.

Merger Details

The merger, involving Starlit Power Systems Limited (the "Corporate Debtor") with KDG Properties & Construction Private Limited, was finalized as per the resolution plan approved by the Hon’ble National Company Law Tribunal (NCLT). Following this, the entity underwent a name change and conversion, officially adopting the title Starlit Power Systems Limited.

Key Decisions from the Board Meeting

The Board of Directors, in its meeting on December 20, 2024, took the following actions:

1. Record Date Announcement: The record date for share allotment is January 3, 2025, allowing eligible shareholders to receive their allotments in accordance with the NCLT-sanctioned merger plan.
2. Timings: The meeting commenced at 12:30 P.M. IST and concluded at 12:55 P.M. IST, reflecting an efficient decision-making process.

Impact on Shareholders

This announcement ensures a seamless process for share allotment post-merger, bringing clarity and transparency to the company’s stakeholders. Shareholders are encouraged to verify their eligibility based on the record date and ensure their details are updated in their Demat accounts for smooth transactions.

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