Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Outcome of Board Meeting held on April 13, 2026
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Eureka Industries Ltd has initiated a Pre-packaged Insolvency Resolution Process (PPIRP) under the Insolvency and Bankruptcy Code, 2016, indicating severe financial distress. The Board approved a Base Resolution Plan including a Scheme of Arrangement to be presented to financial creditors. Ms. Mamta resigned as Managing Director, CFO and Key Managerial Personnel, while Mrs. Madhu Devi resigned as Independent Director. Mr. Chaitanya Jayantilal Pandya has been appointed as both Managing Director and CFO (dual role). The company has also convened an Extraordinary General Meeting on May 18, 2026, for shareholder approvals.
This is a highly negative development as the company has entered the insolvency resolution process, suggesting it cannot meet its debt obligations. Shareholders face significant uncertainty as the resolution plan could result in dilution or loss of equity value. The stock is likely to face severe pressure when trading resumes.