Punj Lloyd Limited has informed the Exchange about Corporate Insolvency Resolution Process : As your good self was already aware that Punj Lloyd Limited ("the Company") is undergoing liquidation on a going concern basis vide Hon''ble National Company Law Tribunal, Principal Bench ("NCLT") order date 27th May, 2022 (Order). Further, by virtue of the said Order and in accordance with the provisions of Insolvency and Bankruptcy Code, 2016, as amended ("IBC"), the powers of the Board of Directors and Key Managerial Personnel of the Company as ceased to exist and is vested with the Liquidator of the Company. Pursuant to Regulation 29 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (''EBI LODR Regulations''), this is to inform you that the Audited Financial Results of the Company for the financial year ended 31st March, 2019 will be considered and approved on 16th September, 2025.
Awaiting price reaction for this filing.
Punj Lloyd Limited is currently undergoing liquidation on a going concern basis following an NCLT order dated 27th May 2022. Under the Insolvency and Bankruptcy Code, the powers of the Board of Directors and Key Managerial Personnel have ceased and now vest with the Liquidator. The Liquidator has informed the Exchange that the Audited Financial Results for the financial year ended 31st March 2019 will be considered and approved at a meeting scheduled on 16th September 2025. The fact that FY2019 results are being approved in September 2025 highlights the extreme delay in financial reporting caused by the insolvency and liquidation process.
Shareholders should note that the company is in liquidation with management control vested in the Liquidator, meaning normal Board oversight is suspended. Approval of results over six years late reflects prolonged insolvency and is a serious red flag for equity holders, who typically face significant or total loss of value in liquidation scenarios.