Ballarpur Industries Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on May 11, 2026
Awaiting price reaction for this filing.
Ballarpur Industries Limited held its 79th AGM on May 11, 2026 via video conferencing. The meeting lasted 21 minutes and had quorum present with all key directors in attendance. The Chairman briefed shareholders on the completion of the Corporate Insolvency Resolution Process (CIRP) and implementation of the Resolution Plan by Finquest Financial Solutions Private Limited, as approved by NCLT in March 2023. The new management shared updates on revival of operations and preparation of pending financial statements. Three ordinary business items were transacted: adoption of audited financial statements for FY ended March 31, 2024, re-appointment of Mr. Parashiva Murthy B S as Non-Executive Director, and rectification of Cost Auditors' remuneration. All resolutions were passed with requisite majority through e-voting.
The completion of CIRP and new board appointment signals the company's formal exit from insolvency proceedings. Shareholders should note that auditors' and secretarial reports contained qualifications that were explained in the Annual Report, which warrants review.