Value Industries Limited has informed the Exchange about reasons for Delayed/Non-submission of Financial Results
Awaiting price reaction for this filing.
Value Industries Limited has informed the stock exchanges that it cannot submit its audited financial results for the year ended March 31, 2025 within the SEBI-mandated 60-day deadline (May 30, 2025). The company is part of the 13 Videocon Group entities currently under Corporate Insolvency Resolution Process (CIRP), which was initiated by State Bank of India in September 2018 and later consolidated by NCLT in August 2019. The delay is attributed to resignations of finance personnel during CIRP, lack of cooperation from promoters and former management, non-availability of pre-CIRP records, and failure of subsidiaries to provide data needed for consolidated results. The Resolution Professional has filed applications under Section 19 of the IBC Code seeking promoter cooperation.
Shareholders continue to face prolonged uncertainty as the company's insolvency resolution remains stuck due to ongoing litigation at the Supreme Court level. The delayed financial results may attract SEBI scrutiny and potential trading restrictions, while existing shareholders remain without clarity on recovery prospects through the stalled resolution process.