Delay in submission of Financial Results for the period ended March 31, 2025
Awaiting price reaction for this filing.
Euro Multivision Ltd informs the exchanges that it cannot submit its audited financial results for the quarter and year ended March 31, 2025 by the May 30, 2025 deadline under SEBI's LODR rules. The reason: the company was under liquidation under the Insolvency and Bankruptcy Code (IBC), and on April 18, 2025, a sale certificate was executed transferring ownership, management, and control to a consortium of Mr. Girish Jain and Mr. Chandra Prakash Ranka, who were the successful bidders in the auction (sold as a going concern). The previous liquidator is still in the process of handing over documents and records to the new owners, which is needed to prepare and finalize the results. The company has indicated that results for FY25 and all prior pending years will be submitted later once the handover is complete.
Shareholders should note that this is a distressed company that has changed hands through a liquidation sale under IBC. The delay in filing results is a compliance lapse under SEBI rules and may attract penalties, but it stems from the insolvency-driven ownership change rather than operational issues. Existing shareholders have effectively lost their investments as the company has been sold to new owners, making this stock effectively worthless for previous equity holders.