Mcnally Bharat Engineering Company Limited has informed the Exchange regarding 'Disclosure of event or information under Regulation 30 of SEBI (LODR) Regulations, 2015 Status update of Resolution Plan implementation'.
Awaiting price reaction for this filing.
McNally Bharat has informed the stock exchanges that BTL EPC Limited, the successful resolution applicant for the company, has filed an application with the NCLT seeking time until 30 September 2025 to make all pending payments under the approved Resolution Plan, including interest for delays. This is in line with the NCLT order dated 3 December 2024 that approved the resolution plan. Lenders have also separately approached the NCLT on the matter. This is a follow-up to the company's earlier communication dated 2 April 2025 on the same subject. The extension request indicates the resolution applicant is facing difficulty in meeting the original payment timelines.
Shareholders should note that the resolution process is still ongoing but is delayed, with the resolution applicant unable to meet original payment deadlines. This raises uncertainty around the timing of revival and any recoveries for stakeholders, which may weigh negatively on sentiment toward the stock.