Disclosure for delay in financial results for the quarter ending 30th september 2025
Awaiting price reaction for this filing.
The company is explaining a delay in publishing its unaudited financial results for the quarters ending June 30, 2025 and September 30, 2025. The company emerged from Corporate Insolvency Resolution Process (CIRP) after the NCLT approved its Resolution Plan on October 9, 2025. Post-resolution, a Monitoring Committee was formed to oversee implementation of the plan, with the erstwhile Resolution Professional elected as Chairman. The delay was caused by the re-appointment of statutory auditors for a fresh five-year term from April 1, 2025, and the time needed to complete the limited review of results. The financial results have actually been prepared and reviewed by auditors, but their release is pending because the Monitoring Committee meeting scheduled for November 19, 2025 to formally approve them was postponed at the request of the Successful Resolution Applicant.
Shareholders should note that the company's financial results are ready and only awaiting Monitoring Committee approval, not a fundamental accounting issue. However, the continued administrative delays during the post-CIRP transition period and postponement at the SRA's request may cause short-term uncertainty and frustration for investors awaiting transparency on the company's financial position after emerging from insolvency.