Intimation regarding Reconciliation of Share Capital Audit Report as per Regulation 76 of SEBI (D&P) Regulations, 2018, for the quarter ended 31.03,2025
Awaiting price reaction for this filing.
Leel Electricals Ltd has informed the stock exchanges that it will not be filing the quarterly Reconciliation of Share Capital Audit Report under Regulation 76 of SEBI (D&P) Regulations, 2018 for the quarter ended 31 March 2025. The company is currently undergoing corporate insolvency resolution — NCLT Allahabad Bench initiated proceedings in December 2021, and by an order dated 11 January 2024 approved the sale of the company as a going concern to a successful resolution applicant. The new management took charge from 1 January 2024. The Board, in meetings on 6 November and 24 November 2024, approved the extinguishment and reduction of share capital with 22 November 2024 fixed as the record date, but these changes are yet to take effect. The company says meaningful reconciliation is not possible while it is still obtaining updated shareholding data from its RTA and depositories.
Shareholders should note that the company remains under insolvency resolution with a new management in place and pending share capital reduction. Existing shareholdings are likely to be materially affected once the capital restructuring takes effect, which may lead to significant dilution or extinguishment of current equity.