Board reconstituted after NCLT allowed withdrawal of insolvency proceedings

GAYAPROJ · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reaction · full curve 14 horizons · vs prior close

-2.3%1-day move

₹22.41

prior close

₹22.20

base price

After-mkt

timing

5m10m15m30m1D2D3D4D5D7D15D1M2M3M

-3.6-3.1-2.7—-2.3-6.3-6.3-8.5-7.2-1.7-7.3———

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AI summary

NCLT allowed withdrawal of CIRP against Gayatri Projects on 12 Sept 2025 (CIRP had been ongoing since Nov 2022). Board was reconstituted on 13 Sept 2025 with T. Sandeep Kumar Reddy as Chairman and MD, T. Sarita Reddy as Executive Director, three new Independent Directors and N. Seshagiri Rao as CFO. Chairperson T. Indira Reddy and Vice-Chairman J. Brij Mohan Reddy resigned on personal and health grounds. Their resignation letters were filed with BSE and NSE on 23 Sept 2025, ten days after the seven-day deadline, due to post-CIRP compliance backlogs. Company requests BSE to condone the delay.

Likely market impact

Positive that insolvency has been lifted, but raises governance concerns over late filing of director resignations and compliance lapses during CIRP.