Announced Wed, 15 Jul · 11:53 IST
Ind Bank Housing claims corporate governance exemption for Q1 FY27
Compliance View source PDF
Price
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+1.8%1-day move
₹51.07
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AI summary
Ind Bank Housing Ltd filed a certificate stating SEBI corporate governance norms do not apply for the quarter ended 30 June 2026. Under Regulation 15(2), the exemption applies when paid-up capital is up to Rs. 10 crore and net worth up to Rs. 25 crore. The company has paid-up capital of Rs. 10 crore as on 31 March 2026, but a sharply negative net worth of Rs. (120.96) crore, with accumulated losses of about Rs. 136.79 crore. A chartered accountant certificate is attached.
Likely market impact
Exempt from corporate governance rules, but negative net worth of Rs. 120.96 crore signals serious financial weakness for shareholders.