Clarification regarding delay in filing disclosure of CFO cessation
Awaiting price reaction for this filing.
Insilco Ltd, which has been under voluntary liquidation since June 2021, informed the stock exchange that Mr. Rajeev Agarwal ceased to be the Chief Financial Officer (CFO) and Key Managerial Personnel effective from the close of business on 21 July 2025. His exit was pursuant to Clause 7 of his employment contract dated 28 June 2023. The company acknowledged an inadvertent delay in disclosing this to the stock exchange, attributing it to preoccupation with filing the company's dissolution application before the NCLT. The company has apologized for the delay and assured timely compliance going forward.
This is largely a procedural disclosure from a company already in liquidation. For shareholders, it signals that the voluntary liquidation process is advancing — a dissolution application has been filed with the NCLT, which could eventually lead to the company being struck off. The CFO cessation and delayed filing are administrative matters tied to the wind-down rather than signs of operational distress.