Burnpur Cement Limited has informed regarding Disclosure of material issue
Awaiting price reaction for this filing.
Burnpur Cement has informed exchanges that UV Asset Reconstruction Company Limited (ARC), which took over the management of the company under Section 9(1)(a) of the SARFAESI Act 2002, has re-appointed Mrs. Rashmi Goyal as an Independent (Non-executive) Director for 5 years effective October 9, 2025. The SARFAESI takeover means lenders seized control of the company due to loan defaults, and the ARC now drives board-level decisions. Mrs. Goyal is a practicing Chartered Accountant with 13 years of experience in finance and taxation, and a former PepsiCo India employee. The company is not related to any existing directors or promoters, and she is not debarred by SEBI from holding directorship.
This filing confirms that Burnpur Cement is under creditor (ARC) control, meaning existing equity shareholders have lost effective say in governance and the company remains in serious financial distress. While board continuity is being maintained, shareholders face uncertain recovery prospects and should treat any price moves with caution given the underlying SARFAESI situation.