Intimation of Resolution Plan

September 25, 2026 The Secretary / Corporate Relationship Dept. The Manager The Bombay Stock Exchange Limited Listing Department, P. J. Towers, National Stock Exchange of India Ltd. Dalal Street, Fort, ‘Exchange Plaza’, C-1, Block G, Mumbai 400001. Bandra Kurla Complex, Bandra (E), Mumbai 400051. Stock Code: 531404 Stock Code: ZICOM Ref: ISIN INE 871B01014 Dear Sir / Madam, Sub: Intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 – Pronouncement of Order dated September 24, 2026 under Section 31 of the Insolvency and Bankruptcy Code, 2016 approving resolution plan for Zicom Electronic Security Systems Limited by the Hon’ble National Company Law Tribunal, Mumbai Bench- I (“Hon’ble NCLT”). Dear Sir/ Madam, This communication is in continuation to announcement made on 24.09.2026 wherein it was informed that the Hon’ble National Company Law Tribunal, Mumbai Bench- I, has pronounced an order dated September 24, 2026 in IA(IBC)(Plan)/32/MB/2026 in CP(IB) No. 610 of 2021 approving the resolution plan submitted by Advaita Trading Private Limited (the successful Resolution Applicant) with respect to the insolvency process of Zicom Electronic Security Systems Limited. We have enclosed herewith the order dated 24.09.2026 for dissemination. We request you to kindly take the aforesaid information on your records. Thanking you, Yours faithfully, For Zicom Electronic Security Systems Limited (Under Corporate Insolvency Resolution Process) Chirag Shah Resolution Professional IBBI/IPA-001/IP-P01169/2018-19/11837 208, Ratnaraj Spring, Opp. HDFC Bank House, Beside Navnirman Co-op Bank, Navrangpura, Ahmedabad- 380009, Gujarat, India. Email: zicom.cirp@gmail.com Zicom Electronic Security Systems Limited (Under CIRP) Zicom House, 45 Chimbai Road, Off Hill Road, Bandra (West), Mumbai - 400 050. (Earlier Regd. Office: 501, Silver Metropolis, Western Express Highway, Goregaon (E), Mumbai - 400 063.) www.zicom.com CIN: L32109MH1994PLC083391 IN THE NATIONAL COMPANY LAW TRIBUNAL, MUMBAI BENCH- I IA(IBC)(Plan)/32/MB/2026 Under Section 30(6) read with Section 31(1) of the Insolvency and Bankruptcy Code, 2016 In the Application of Chirag Shah, Resolution Professional of Zicom Electronic Security Systems Limited …Applicant Along With IA(I.B.C)/1566(MB)2026 Central Bank of India ... Applicant Versus Chirag Rajendrakumar Shah, Resolution Professional of Zicom Electronic Security Systems Ltd. & Ors ... Respondents In the matter of CP(IB) No. 610 of 2021 IDBI Bank Limited …Financial Creditor Versus Zicom Electronic Security Systems Limited …Corporate Debtor Order Delivered On : 24.09.2026 IN THE NATIONAL COMPANY LAW TRIBUNAL MUMBAI BENCH – 1 IA (IBC) (PLAN) No. 32 of 2026; IA (I.B.C)/1566(MB)2026 in CP (IB) 610 of 2021 Coram: Sh. Prabhat Kumar Sh. Sushil Mahadeorao Kochey Member (Technical) Member (Judicial) Appearances: Adv. Rohit Gupta a/w Adv. Niyati Merchant for the Applicant / Resolution Professional in IA (IBC) (PLAN) /32(MB) of 2026 and Respondent in IA(I.B.C)/1566(MB) of 2026 Adv. Shadab Jan a/w Adv. Malavika Sachin for the Central Bank of India in IA (I.B.C)/ 1566 (MB) of 2026 Adv. Rishi Thakur a/w Adv. Dhwani Gala for the Respondent No.2 in IA (I.B.C)/ 1566(MB) of 2026. ORDER Brief Facts: 1. The present Application has been filed on 3.4.2026 by Chirag Shah, Resolution Professional (“Applicant”/“Resolution Professional/RP”) of Zicom Electronic Security Systems Limited (“Corporate Debtor”/“CD”), under Section 30(6) read with Section 31(1) of the Insolvency and Bankruptcy Code, 2016 (“Code”), Regulation 39(4) of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 (“CIRP Regulations”), and Rule 11 of the National Company Law Tribunal Rules, 2016, seeking approval of the Resolution Plan dated 24.12.2025 along with the Addendum dated 29.01.2026 and 26.03.2026 and submitted by M/s Advaita Trading Private Limited (hereinafter referred to as the “Successful Resolution Applicant”/“SRA”). 2. The Corporate Debtor is a public listed company incorporated on 01.12.1994 under the provisions of the Companies Act, bearing Corporate Identification Number (CIN) L32109MH1994PLC083391. Its registered office is situated at Zicom House, 45, 2 | Page IN THE NATIONAL COMPANY LAW TRIBUNAL MUMBAI BENCH – 1 IA (IBC) (PLAN) No. 32 of 2026; IA (I.B.C)/1566(MB)2026 in CP (IB) 610 of 2021 Chimbai Road, Off Hill Road, Bandra (West), Mumbai- 400 050, and Earlier Registered Office Address: 501, Silver Metropolis, Western Express Highway, Goregaon (East), Mumbai – 400063. The Corporate Debtor is registered with the Registrar of Companies, Mumbai, and has an authorised share capital of Rs.50 crores divided into 5,00,00,000 equity shares of Rs.10/- each and paid-up share capital of ₹4,12,24,141/-. The Corporate Debtor is primarily engaged in the business of electronic security solutions to the Indian market. 3. The Corporate Insolvency Resolution Process (“CIRP”) of the Corporate Debtor commenced pursuant to the order dated 29.07.2022 passed by this Tribunal in C.P. (IB) No. 610 (MB) of 2021 under Section 7 of the Code, whereby Mr. Huzefa Fakhri Sitabkhan, the Erstwhile Resolution Professional was appointed as the Interim Resolution Professional (“IRP”) and his appointment was confirmed in the second meeting of the Committee of Creditors (“CoC”) on September 21, 2022. 4. Upon commencement of the Corporate Insolvency Resolution Process (“CIRP”), the Interim Resolution Professional (“IRP”) issued a public announcement on 05.08.2022. After receiving, collating and verifying the claims, the IRP constituted the Committee of Creditors (“CoC”) on 17.08.2022. The first Form G, inviting Expressions of Interest (“EoIs”) from prospective resolution applicants (“PRAs”), was issued on 27.09.2022, with 21.10.2022 stipulated as the last date for submission of EoIs. By an addendum dated 22.10.2022, the said deadline was extended to 11.11.2022. 5. Thereafter, the IRP issued the provisional list of eligible PRAs on 21.11.2022 and the final list on 27.11.2022. The eligible PRAs were subsequently granted access to the virtual data room of the Corporate Debtor. The last date for submission of resolution plans, initially fixed as 30.12.2022, was later extended to 31.01.2023 and thereafter to 17.02.2023. At its seventh meeting held on 17.02.2023, the CoC approved a further extension of the deadline for submission of resolution plans until 03.03.2023. 6. At its eighth meeting held on 06.03.2023, the CoC concluded the process for receipt of resolution plans and opened the three plans received in sealed covers. The plans were considered at the ninth CoC meeting held on 16.03.2023; however, the CoC members 3 | Page IN THE NATIONAL COMPANY LAW TRIBUNAL MUMBAI BENCH – 1 IA (IBC) (PLAN) No. 32 of 2026; IA (I.B.C)/1566(MB)2026 in CP (IB) 610 of 2021 expressed concern that the amounts offered were below the fair value and liquidation value determined by the registered valuers. 7. Accordingly, at its eleventh meeting held on 23.03.2023, the CoC, with a view to maximising the value of the Corporate Debtor’s assets, permitted all three resolution applicants to submit revised and compliant plans with substantially enhanced offers by 27.03.2023. 8. At its twelfth meeting held on 28.03.2023, the CoC noted that, out of the ten prospective resolution applicants included in the final list, only three had submitted plans, none of which met its commercial expectations. The CoC, therefore, resolved to close the existing process and commence a fresh process by inviting Expressions of Interest from all interested investors, including the existing resolution applicants. 9. Pursuant to the decision taken at the twelfth CoC meeting, the erstwhile Resolution Professional issued a fresh Form G on 04.04.2023, fixing 18.04.2023 as the last date for submission of Expressions of Interest. The provisional and final lists of eligible prospect [Showing first 8,000 characters — download PDF for full document]