Videocon Industries Limited has informed the Exchange about reasons for Delayed/Non-submission of Financial Results
Awaiting price reaction for this filing.
Videocon Industries has informed the stock exchanges that it will delay submitting its audited financial results for the year ended March 31, 2025, which were originally due by May 30, 2025. The company states it is unable to finalise results on time due to ongoing legal and insolvency-related complications. It has been under Corporate Insolvency Resolution Process (CIRP) since September 2018, with 13 Videocon Group entities consolidated under it. While NCLT approved Twin Star Technologies' resolution plan in June 2021, the NCLAT set aside that approval in January 2022, and the matter is now pending before the Supreme Court, which has ordered status quo. Additional delays are caused by the resignation of accounting personnel, lack of cooperation from promoters and former management, and non-availability of pre-CIRP records and subsidiary data.
Shareholders face continued uncertainty due to the prolonged insolvency proceedings and lack of timely financial disclosure, which may weigh negatively on investor confidence and stock liquidity.