DS Kulkarni Developers Limited has informed the Exchange about Intimation About Filing of Corporate Governance Report for the Quarter Ended 30th June 2025.
Awaiting price reaction for this filing.
DS Kulkarni Developers Limited has informed the stock exchanges that it cannot submit the mandatory quarterly Corporate Governance Report for the quarter ended 30 June 2025, as required under SEBI's Listing Regulations. The company is recovering from a Corporate Insolvency Resolution Process (CIRP) under the IBC, with NCLT Mumbai having approved its Resolution Plan in June 2023. The current Board comprises Managing Director Mr. Bhushan Palresha and Director Mr. Sumit Diwane, but the company says it has been unable to find suitable director candidates with real estate expertise to meet the required Board and Committee composition. It is actively searching for qualified directors to restore full compliance.
This is a regulatory non-compliance that may attract penalties from SEBI/BSE/NSE and reflects lingering governance weakness post-insolvency. For shareholders, this is a negative signal indicating the company has not yet stabilised its Board composition despite the resolution plan being approved over two years ago.