Reply to the mail received on 23122024
Awaiting price reaction for this filing.
Poddar Housing and Development Ltd is responding to BSE regarding the suspension of trading in its securities, which took effect from December 13, 2024, due to repeated non-compliance with listing rules. BSE had warned it could start compulsory delisting within six months. The company says it has begun clearing backlogs: audited results for the year ended March 31, 2024 were declared on April 29, 2025, and the Annual General Meeting is scheduled for June 30, 2025. It blames past non-compliance on post-Covid disruptions, staff turnover, financial difficulties, and discontinued projects. A tentative schedule has been given to clear all pending quarterly and annual results by October 31, 2025. The company has requested BSE not to initiate delisting proceedings.
Shares remain suspended from trading on BSE/NSE until the company fully clears its compliance backlog; investors currently cannot buy or sell the stock. If the company meets its self-imposed timeline, there is a chance of trading being restored, but until then, shareholders face liquidity risk and uncertainty about a potential delisting.