BSECompany Update5d ago · 4 Nov 2026, 06:03 pm
Intimation
Zicom Electronic Security Systems Ltd-$ · 531404
✦ AI SummaryInsolvency
Zicom Electronic Security Systems Ltd. has received an order from the National Company Law Appellate Tribunal (NCLAT) that any further proceedings in the company's insolvency case will be subject to the final outcome of an appeal. The company's resolution professional has been directed to recompute the inter se distribution of the fixed outlay of Rs. 16,00,00,000 allocated to financial creditors.
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Governance Concern3/10
Regulatory Risk8/10
Balance Sheet Risk6/10
Liquidity Impact4/10
Market Sentiment5/10
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Full Announcement
Zicom Electronic Security Systems Ltd-$ - 531404 - Corporate Insolvency Resolution Process (CIRP)-Public Announcement
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November 4, 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: Update Regarding Proceedings Pursuant to the Impugned Order in Company Appeal (AT) (Ins.) No. 2006 of 2026
before the Hon’ble NCLAT, New Delhi for Zicom Electronic Security Systems Limited.
Dear Sir/ Madam,
It is pertinent to note that the Hon’ble National Company Law Appellate Tribunal (NCLAT), New Delhi, vide its order passed
in Company Appeal (AT) (Ins.) No. 2006 of 2026 dated 26.10.2026, having regard to the facts and circumstances of the case,
has directed that any further proceedings undertaken in pursuance of the impugned order shall remain subject to the final
outcome of the present appeal. The matter has accordingly been directed to be listed on 18.11.2026 under the same caption.
We request you to kindly take the aforesaid information on your records.
Thanking you,
Yours faithfully,
For Zicom Electronic Security Systems Limited
Chirag Shah
Chairman of Monitoring Committee
IBBI/IPA-001/IP-P01169/2018-19/11837
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
NATIONAL COMPANY LAW APPELLATE TRIBUNAL
PRINCIPAL BENCH, NEW DELHI
Comp. App. (AT) (Ins) No. 2006 of 2026
IN THE MATTER OF:
IDBI Bank Ltd. …Appellant
Versus
Central Bank of India & Ors. …Respondents
Present:
For Appellant : Mr. Krishnendu Datta, Sr. Adv. along with Mr. Anand
Varma, Ms. Apoorva Pandey & Mr. Ayush Gupta.
For Respondents : Mr. Asav Rajan, Mr. Kashish Chadha, Mr. Aditya
Shah, Mr. Devang Shrotriya, Mr. Raghav Bansal &
Mr. Pranay Duggal, for R-1.
Mr. Chirag Shah, for RP.
O R D E R
(Hybrid Mode)
26.10.2026 I.A. No 7592 of 2026
Having heard Learned Counsel for the Appellant. The instant I.A is
disposed of in terms that if during the course of hearing, the necessity w.r.t.
any document which has been filed illegible arises, the Counsel for the
Appellant would file a typed copy of the same.
The aforesaid IA is disposed of in above terms.
Comp. App. (AT) (Ins) No. 2006 of 2026
1. Heard Learned Counsel for the Appellant as well as Learned
Counsel for the Respondent No. 1 and perused the record.
2. Mr. Asav Ranjan has appeared on behalf of the Respondent No. 1/
Central Bank of India, submits that he has not received the Memo of Appeal
along with its enclosures and therefore, the Appellant be directed to provide
the copy of the same to him. We direct Learned Counsel for the Appellant to
provide the Memo of Appeal along with its enclosure to Learned Counsel for
the Respondent No. 1 during the course of the day.
3. Learned Counsel for the Appellant submits that an application was
moved by the Respondent No. 1 before the Learned Adjudicating Authority
which has been disposed of, by passing impugned order, in terms that the
dissenting financial creditors are entitled to a minimum payment equal to
the liquidation value of their security interest, and thus, directed the
Resolution Professional to recompute the inter se distribution of the fixed
outlay of Rs. 16,00,00,000/- allocated to financial creditors in compliance of
its order.
4. Learned Counsel for the Appellant has relied upon the judgement
passed by this Appellate Tribunal in the matter of Beacon Trusteeship Ltd.
v. Jayesh Sanghrajka, CA (AT) (INS) No. 1494-1495 of 2022 in order to
buttress his submissions, that the order passed by the Learned
Adjudicating Authority is against the established precedents.
5. We also noticed at this juncture that the CoC has been arrayed as
Respondent No. 4, however, all the members of the CoC including some
banks who are the component of the CoC had not been arrayed separately,
which in our opinion are proper and necessary parties to the lis.
6. Thus, we direct Learned Counsel for the Appellant to implead each
and every member of the CoC as the Respondent’s to this appeal and the
amended memo in compliance with this direction may be filed within three
working days from today.
7. No need to say that the Appellant would have to serve the newly
impleaded respondents as well as already existing Respondents No. 2 to 4
by all possible means including by hand i.e., Dasti.
8. Steps along with requisites be taken within three working days from
today.
9. As requested by Learned Counsel for the Respondent No. 1 the
reply to the appeal may be filed within a week from today with an advance
copy to Learned Counsel for the Appellant who in turn if so wish may file
the rejoinder, within three working days thereafter.
10. In view of the facts and circumstances of the case, it is provided
that further proceeding which would be taken in pursuance of the
impugned order, would be subject to the final outcome of this appeal.
11. List this appeal on 18.11.2026 under the same caption.
[Justice Mohammad Faiz Alam Khan]
Member (Judicial)
[Mr. Naresh Salecha]
Member (Technical)
Sim/ Kam