CMI Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 29/10/2025 ,inter alia, to consider and approve unaudited financial results for the quarter ....
Awaiting price reaction for this filing.
CMI Ltd has informed BSE that its Board of Directors will meet on Wednesday, October 29, 2025 to consider and approve unaudited financial results for the quarter ended June 30, 2024 and the quarter and half-year ended September 30, 2024. The filing notes that the company is currently undergoing Corporate Insolvency Resolution Process (CIRP) under Section 7 of the Insolvency and Bankruptcy Code, 2016, initiated by financial creditor Canara Bank in August 2023. Since the Board's powers are suspended under IBC, Resolution Professional Mr. Deepak Maini has authorized the Board to sign and approve these results. There is a notable delay — results for periods ending June and September 2024 are only being approved in October 2025, over a year later.
Shareholders should be aware that CMI Ltd is under active insolvency proceedings, which typically restricts trading and resolution outcomes for equity holders. The substantial delay in submitting quarterly results signals serious operational and governance stress, and investors should treat the stock with heightened caution given the ongoing CIRP.