Poddar Housing and Development Limited has informed the Exchange regarding 'Reply to the show cause notice'.
Awaiting price reaction for this filing.
Poddar Housing and Development has responded to a show cause notice from NSE (dated 14 July 2025) asking why its equity shares should not be delisted under the SEBI Delisting Regulations 2021 and Rule 21 of the Securities Contracts (Regulation) Rules, 1957. The non-compliance was due to delayed financial results and corporate governance lapses, which the company attributes to post-COVID disruptions, frequent staff changes, manpower shortages, financial difficulties, and discontinuation of projects. The company has already submitted audited results for FY24 and held its 42nd AGM on 30 June 2025, and has provided a tentative schedule to clear all pending quarterly results by mid-December 2025. It has requested NSE not to initiate delisting proceedings.
This is a negative signal for shareholders as delisting would remove liquidity from the stock. However, the company appears to be actively catching up on compliance, which reduces the immediate risk if the exchange accepts the response.