Clarification regarding announcement dated 19.09.2025 - Submission of reason for delay in intimation
Awaiting price reaction for this filing.
Value Industries Ltd, currently under Corporate Insolvency Resolution Process (CIRP) since September 2018 as part of the 13 Videocon Group entities, has responded to BSE's query about why it delayed disclosing the resignation of its Statutory Auditor under Regulation 30 of SEBI's LODR rules. The company attributed the delay to technical glitches in internal systems, limited manpower and operational resources under ongoing CIRP, and procedural complexities in coordinating with the resigning auditor. The company's securities have been suspended from trading on both BSE and NSE since June 16, 2021. The resolution plan approved by NCLT in June 2021 was set aside by NCLAT in January 2022, and the matter is currently before the Supreme Court, which has ordered status quo to be maintained.
This is a procedural compliance clarification and does not change the company's fundamental situation. Shareholders remain in a prolonged insolvency with no active trading in the stock, and the outcome still depends on the pending Supreme Court hearing on the Videocon Group's resolution plan.