Company Disclosure Update
Background and Chronology of Events
- Initial NPA Classification: The company's Cash Credit account with Bank of Maharashtra was classified as NPA, as previously disclosed on April 25, 2026.
- Company Response: Following the NPA classification, the company immediately approached officials of Bank of Maharashtra seeking clarification regarding the basis of the NPA classification. The company requested that the account be reviewed and upgraded, believing the classification was not in accordance with applicable norms.
- Bank's Response: Despite more than 30 days having elapsed since the company's approach, Bank of Maharashtra neither provided a satisfactory explanation nor communicated the reasons for continuing the NPA classification. The company did not receive any substantive response regarding its request for review and upgradation of the account.
Regulatory Action Taken
- Formal Complaint Lodged: In view of the absence of a satisfactory response from the bank, the company has lodged a formal complaint before the Banking Ombudsman seeking appropriate redressal of the grievance.
- Complaint Details: The complaint was registered with the Reserve Bank of India's Integrated Ombudsman Scheme on July 17, 2026, with complaint number N202627013010244. The complaint specifically concerns "Loans and Advances" against Bank of Maharashtra.
Current Status and Forward Commitment
The company is actively pursuing the matter with the concerned authorities and remains committed to protecting the interests of all stakeholders. Vishvprabha Ventures Limited has committed to keeping the Stock Exchange informed of any further material developments in accordance with the applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Financial Impact
Financial impact not quantified in the disclosure. The document does not specify the amount of the cash credit facility or potential financial implications of the NPA classification.