Board reconstituted during CIRP with three new directors appointed

Multiple Ind Directors ResignedManagement Changes View source PDF Explain this filing

ANSALAPI · price

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Price reactionminutes from the announcement price · days from the prior close

+1.4%Reaction day

₹2.89

prior close

₹2.93

announcement price

After-mkt

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Nifty Microcap 250market · in no size index; the smallest one is used+1.3%+0.1% vs market

On the reaction day the stock moved 0.1 pts more than Nifty Microcap 250, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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Reaction day

+1.4+1.3+0.1

Next day

+3.1+0.3+2.8

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AI summary

Pranav Ansal, the promoter and Chairman/Whole Time Director, ceased office on 31 October 2025 during the ongoing Corporate Insolvency Resolution Process (CIRP). Three other directors had also already resigned. With no directors left on the board, Pranav Ansal appointed Sanjay Jain, Roshan Lal Kamboj, and Vipul Garg as directors effective 3 February 2026 to reconstitute the board. NCLAT has confined CIRP to Lucknow and some Rajasthan projects of the company.

Likely market impact

Board reconstituted during ongoing insolvency process. New directors may help steer company through CIRP, but shareholders face continued uncertainty from insolvency proceedings.