Pursuant to Regulation 30(6) read with PART A of Schedule III of SEBI(Listing Obligation and Disclosure Requirement) Regulations, 2015, Resolution Professional based on confirmation received ....
Awaiting price reaction for this filing.
CMI Ltd, which is currently under the Corporate Insolvency Resolution Process (CIRP) following NCLT admitting Canara Bank's petition under Section 7 of the Insolvency and Bankruptcy Code 2016, has appointed M/s. Lal Ghai & Associates as its Secretarial Auditor. The appointment was made by the Resolution Professional (whose powers supersede the Board of Directors) on 31st March 2025. The firm will conduct the secretarial audit for three financial years ending 31st March 2024, 31st March 2025, and 31st March 2026. Lal Ghai & Associates is a peer-reviewed firm established in 2014 handling company law, SEBI compliances, IBC matters, and related legal services.
This is a routine compliance appointment required under SEBI listing rules and is being made under the oversight of the Resolution Professional during the company's insolvency proceedings. It signals continued regulatory compliance efforts but does not change the underlying insolvency status or shareholder value, which remains contingent on the outcome of the CIRP process.