Rama Paper Mills Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 17/05/2025 ,inter alia, to consider and approve Unaudited Financial Results ....
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Rama Paper Mills has called a Board meeting on May 17, 2025, to approve its unaudited financial results for two quarters — the one ending September 30, 2024 and the one ending December 31, 2024. Both sets of results are significantly delayed, which is unusual. Importantly, the filing reveals that the company has been under the Corporate Insolvency Resolution Process (CIRP) since June 7, 2024, after creditors Amar Ujala Limited and Impression Printing and Packaging Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code. The powers of the Board of Directors are currently suspended and the Resolution Professional, Sandeep Kumar Agrawal, is running the company under Section 17 of the IBC. The trading window for insiders is closed until 48 hours after the results are announced.
This is a serious red flag for shareholders. The company is in active insolvency proceedings with its Board suspended, and financial results are being filed months late. Equity holders face substantial uncertainty — under IBC resolution, existing shareholders are typically the last in line for any recovery and may be diluted or wiped out depending on the resolution plan. The stock is high-risk.