Copy of the reply submitted to the NSE
Awaiting price reaction for this filing.
NSE issued a show cause notice to Poddar Housing and Development on July 14, 2025, asking why its equity shares should not be delisted under SEBI Delisting Regulations 2021 due to prolonged non-compliances, including delayed financial results and board composition issues. The company replied on July 23, 2025, citing reasons such as post-Covid effects, frequent staff changes, manpower shortages, financial difficulties, and discontinuation of running projects. The company has already filed its FY24 audited results (April 29, 2025) and held its 42nd AGM on June 30, 2025. It provided a tentative schedule to clear all pending quarterly results by December 2025 and committed to fixing board composition within two weeks. The company has requested NSE to not initiate delisting proceedings.
This is a serious regulatory overhang — failure to meet the compliance commitments could lead to delisting, severely impacting share liquidity and value for investors. However, the company's proactive submission of a compliance roadmap signals intent to resolve issues, which may help avoid the worst outcome if deadlines are met.