Clarification regarding the query raised by BSE
Awaiting price reaction for this filing.
Richa Industries Ltd has clarified to BSE that the company is under liquidation following an order by the Hon'ble NCLT Chandigarh Bench dated June 11, 2025 under the Insolvency and Bankruptcy Code, 2016. Mr. Mohit Chawla has been appointed as the Liquidator. The company explained that its Board of Directors has ceased functioning, with all powers now vested in the Liquidator. This clarification addresses a BSE query regarding the non-submission of Board Meeting outcome for November 26, 2025. The financial results for Q2 FY26 (quarter ended September 30, 2025) were approved by the Liquidator instead of the Board. The delay in regulatory submissions was unintentional and resulted from the ongoing liquidation process.
The company is in formal liquidation, meaning existing shareholders' equity is being liquidated to repay creditors. The stock is effectively in a wind-down phase with no functioning board to drive operations or future performance.