Bkm Industries Limited has informed the Exchange regarding Outcome of Board Meeting held on March 28, 2026.
Awaiting price reaction for this filing.
BKM Industries (formerly Manaksia Industries) held a Board meeting on March 28-29, 2026, where it cleared a long backlog of pending financial results, covering all quarters of FY2021-22 and FY2022-23, plus Q1 FY2023-24. The company explains that these results could not be filed on time because the company was undergoing the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, with management vested in the Resolution Professional. The NCLT has now approved the Resolution Plan under Sections 30 and 31 of the IBC, which grants the company immunities from past non-compliances, including delays in submitting financial results. The Board also approved Annual Reports and Board's Reports for FY2020-21 through FY2024-25, noted the allotment of securities to new promoters and a capital reduction under the Resolution Plan, appointed Ms. Priya Motwani as Company Secretary and Compliance Officer, and approved applying to BSE and NSE to recommence trading in the company's shares.
This is a positive turning-point announcement for shareholders — the company is emerging from insolvency with an NCLT-approved Resolution Plan, clearing years of pending filings, bringing in new promoters, and seeking resumption of trading. Shareholders who survived the CIRP process may see a revival, but the capital reduction and new promoter allotment mean existing shareholders' stakes have likely been restructured under the resolution plan.