Reply to communication received from NSE & BSE
Awaiting price reaction for this filing.
Ballarpur Industries has responded to notices from BSE and NSE dated July 14, 2025, flagging non-compliance with SEBI's Regulation 33, which requires timely submission of financial results. BSE has levied a fine of Rs. 1,53,400 (including GST) for late filing of March 2025 quarter and yearly results, at Rs. 5,000 per day of delay. The company explains the delay is because the new management only received financials up to FY 2019 (audited) and FY 2021 (unaudited) from the previous resolution professional when control was handed back. The new board has since prepared and audited consolidated results up to FY 2024, but is still finalizing consolidated statements for the year ended March 31, 2025 due to missing data from subsidiaries. The company has filed an Interlocutory Application before NCLT Mumbai seeking an extension or exemption, and is awaiting relief.
Shareholders should note the ongoing compliance risk: if the company fails to resolve this within the second consecutive year of non-compliance, BSE may transfer the stock to the Z group and suspend trading, and promoter's shareholding could be frozen for non-payment of fines. The outcome of the NCLT application will be a key near-term catalyst.