Shirpur Gold Refinery Limited has informed the Exchange regards to compliance to Quarter ended 30 June, 2025.
Awaiting price reaction for this filing.
Shirpur Gold Refinery Limited, which has been under the Corporate Insolvency Resolution Process (CIRP) since 24 June 2024 after NCLT Mumbai admitted a Section 7 petition filed by Prudent ARC Ltd, has informed the exchanges that it cannot submit the quarterly Shareholding Pattern, Reconciliation and Share Capital Audit Report, and Disclosure of Encumbered Shares for the quarter ended 30 June 2025. The reason is that NSDL, CDSL, and the company's Registrar & Transfer Agent (RTA) have stopped providing shareholding data (Benpos) because the erstwhile management did not pay their outstanding fees. The Resolution Professional, Ashish Vyas, has also filed an Interlocutory Application under Section 19(2) of the IBC against the suspended board for non-cooperation. The company notes it is exempt from certain corporate governance filings under Regulation 15(2A) and 15(2B) of SEBI LODR while CIRP is ongoing.
This is a negative disclosure for shareholders — the company remains in insolvency with no resolution plan yet, the suspended board is allegedly uncooperative, and the stock continues to face regulatory non-compliance risks. Existing equity holders are very likely to face significant dilution or write-down as part of any resolution plan.