Key Details
- The Company is required to consider, approve, and take on record the un-audited Financial Results (Standalone) for the quarter ended September 30, 2026 along with the auditor's limited review report within forty-five days from the end of the quarter under Regulation 33 of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015.
- The delay is attributed to the cessation of all directors in the recent past, resulting in an imbalanced composition and structure of the Board of Directors and the Audit Committee that is not in compliance with the provisions of the Companies Act, 2013 and SEBI (LODR) Regulations, 2015.
- Due to this non-compliant board structure, the Company cannot get its financials duly approved for submission to the Stock Exchange as per listing regulation requirements.
- An application under Section 98 of the Companies Act 2013 is currently pending before the Honourable NCLT, New Delhi Bench for appointment of new director(s), and the Company is awaiting the directions of the NCLT.
- Consequently, the statutory meetings of the Board of Directors and Audit Committee to approve the financial results cannot be convened and held on or before November 15, 2026 (the regulatory deadline).
- The Company notes there is no provision under Regulation 33 of SEBI (LODR) Regulations, 2015 to submit provisional financial statements.
- The Company will approve and announce its Standalone Unaudited Financial Results for the quarter ended September 30, 2026 once the Board of Directors and the Audit Committee are duly constituted in accordance with the Companies Act, 2013 and SEBI Regulations.
Financial Impact
Financial impact not quantified in the disclosure. The delay affects regulatory compliance but does not specify operational or financial performance impact.