The Exchange had sought clarification from Setubandhan Infrastructure Limited for the quarter ended 30-Jun-2023 with respect to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. On basis of above the Company was required to clarify the following: -1. Consolidated Financial Results not submitted The response of the Company is enclosed.
SETUINFRA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Setubandhan Infrastructure Limited has clarified to exchanges regarding missing segment details and consolidated financial results for Q1 FY2023. The company is under Corporate Insolvency Resolution Process (CIRP) since November 2022, initiated by State Bank of India. The Resolution Professional states that financial records, books of accounts, and data were not made available to them despite repeated requests, preventing comprehensive financial statement preparation. A Resolution Plan approved by creditors was rejected by NCLT in March 2025, and an appeal is pending before NCLAT. The company submitted available limited information to maintain compliance during these exceptional circumstances.
Shareholders should note the company remains in insolvency proceedings with unresolved debt, a rejected resolution plan under appeal, and ongoing compliance challenges due to inaccessible financial records. The stock may remain volatile given the uncertain insolvency outcome.