Disclosure under reg 30
Awaiting price reaction for this filing.
Ballarpur Industries explained to the stock exchanges why it delayed submitting annual reports (Reg 34 compliance). The company went through Corporate Insolvency Resolution Process (CIRP) from January 2020, with NCLT approving Finquest Financial Solutions' resolution plan on March 31, 2023. After the new board took over, only audited financials up to FY 2019 existed, forcing the new management to reconstruct and audit consolidated financials up to FY 2025 at significant cost. The company received a 2-month extension from MCA on September 13, 2025 and successfully held its AGM on November 3, 2025, adopting financial statements for FY 2020-21, 2021-22, and 2022-23. AGMs for FY 2023-24 and FY 2024-25 are still pending. The company is requesting the exchanges to waive fines arising from these delays, citing extraordinary circumstances beyond its control.
While the company has largely caught up on its compliance, it may still attract exchange fines/penalties for the historical delays, though it is formally requesting waiver. Shareholders should note the company emerged from insolvency in 2023 and has been working to restore governance and reporting standards under new management.