The Monitoring Committee has appointed Mr. Ruhini Kumar Chakraborty (DIN: 08124270) as an Independent Director of the Company in its meeting held on May 27, 2026.
Awaiting price reaction for this filing.
The Monitoring Committee has appointed Mr. Ruhini Kumar Chakraborty as an Independent Director effective May 27, 2026. The filing also includes auditor Limited Review Reports for Q1, Q2, and Q3 of FY 2025-26 showing the company was under Corporate Insolvency Resolution Process (CIRP). A Resolution Plan was approved by NCLT on July 31, 2025. The company reported losses during all reviewed periods with negative net worth, though financial results continue to be prepared on a going concern basis. Comparative figures from earlier quarters are unavailable as those financial results were not prepared during CIRP.
The appointment of an Independent Director by the Monitoring Committee signals post-insolvency governance restructuring. Despite ongoing losses, the approved Resolution Plan provides some stability. Investors should monitor whether the new board can steer the company toward profitability.