LEEL Electricals Limited provides intimation to BSE Limited and National Stock Exchange of India Limited regarding the non-submission of the Reconciliation of Share Capital Audit report for the half year ended 30.09.2026 as required under Regulation 76 of the SEBI (Depositories and Participants) Regulations, 2018.

The company explains that this omission is due to ongoing capital restructuring activities following its acquisition through insolvency proceedings. The Hon'ble National Company Law Tribunal (NCLT) Allahabad Bench initiated liquidation proceedings against the company vide order dated 06.12.2021. Subsequently, the NCLT approved the sale of the company as a going concern to Krishna Ventures Limited (KVL/Acquirer) through its order dated 21.03.2024.

The liquidator issued a Sale Certificate dated 12.06.2024 for the sale of the company as a going concern under the provisions of the Insolvency and Bankruptcy Code, 2016. The acquirer initiated the takeover process, with new management inducted on the Board effective 01.07.2024.

Pursuant to NCLT Allahabad Bench Orders dated 21.03.2024 and 23.10.2024, the Board of Directors approved several capital restructuring measures:

  • Meeting (05/2024-25) dated 24.12.2024: Approved cancellation and extinguishment of entire equity share capital of erstwhile Promoters/Promoters Group to zero without any payout, and reduction of existing public shareholders' equity capital to 1 equity share for every 43 shares held as on Record Date 22.11.2024 without any payout.
  • Meeting (08/2024-25) dated 07.03.2025: Approved proportionate allotment of 5,43,011 equity shares to eligible public shareholders as on Record Date 22.11.2024 in the ratio of 1:43 (1 share for every 43 shares held) to achieve Minimum Public Shareholding of 5% of post-issue paid-up capital under Rule 19A of Securities Contracts (Regulations) Rules, 1957.
  • Meeting (02/2025-26) dated 26.07.2025: Approved preferential issue and allotment of 1,02,60,000 equity shares to the Acquirer & its Affiliate/Nominee/Strategic Investors.

The company has filed relevant Corporate Action Forms and Listing Applications with depositories and stock exchanges, which are currently under process. The disclosure states that until this capital restructuring exercise is updated in the systems, the Reconciliation of Share Capital Audit report for the period ended 30.09.2026 would serve no meaningful purpose.

The intimation is signed by Neeraj Gupta, Managing Director (DIN: 07176093), and digitally dated 30.10.2026.