CMI Limited replies to exchange observation on audit qualification format

Nclt Insolvency AdmittedRegulatory & Legal View source PDF Explain this filing

CMICABLES · price

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AI summary

CMI Limited responded to NSE and BSE observation that the Statement of Impact of Audit Qualifications was not in the SEBI-prescribed format. The company clarified that it is undergoing Corporate Insolvency Resolution Process under IBC 2016, its Board is suspended, and powers are exercised by the Resolution Professional. Lacking a CFO, the statement was signed by a suspended director with RP authorization and countersigned by the RP and statutory auditor.

Likely market impact

Confirms company remains under IBC insolvency process with Board suspended, signaling continued financial distress and limited management control.