SKIL Infrastructure Limited has informed the Exchange regarding non submission of financial results for the quarter and year ended March 31, 2026 under Regulation 33 of the SEBI (LODR) ....
Awaiting price reaction for this filing.
SKIL Infrastructure has informed exchanges that it cannot submit financial results for Q4 and FY2026 due to ongoing Corporate Insolvency Resolution Process (CIRP). The company explains that delays were caused by prolonged legal proceedings, initial non-cooperation from the Company Secretary (requiring engagement of external company secretary), and refusal by statutory auditors to finalize accounts without clearing pre-CIRP dues. The Resolution Professional filed non-cooperation applications under Section 19 of IBC against both the Company Secretary and auditors. The company has recently submitted financial results for Q2 and Q3 of FY2025 (September and December 2024 quarters) and is working on submitting remaining pending results in a phased manner. The RP is requesting stock exchanges to grant relaxation for the delayed submissions, citing circumstances beyond the company's control.
This is a negative development for shareholders as the company remains in insolvency proceedings with delayed financial reporting. The stock is likely to remain under pressure given the CIRP status, lack of audited financials, and regulatory non-compliance. Investors should avoid or exit positions given the high-risk nature of this counter.