This is an intimation to BSE Limited regarding a delay in submitting the company's audited standalone financial results for the fourth quarter and financial year ended March 31, 2026. The disclosure is made under Regulation 29 read with Regulation 33 of the SEBI (LODR) Regulations, 2015.
The primary reason for the delay is the recent cessation of all the directors of the company. This has resulted in the composition and structure of the Board of Directors and the Audit Committee no longer being in compliance with the provisions of the Companies Act, 2013, and the SEBI (LODR) Regulations, 2015. Consequently, the company is currently unable to legally approve or have its financial results audited.
To resolve this governance vacuum, an application under Section 98 of the Companies Act, 2013, is currently pending before the National Company Law Tribunal (NCLT), New Delhi Bench. This application seeks the appointment of new director(s). The company is awaiting explicit directions from the Tribunal on this matter, making the appointment of new directors entirely contingent upon a judicial order.
Due to these circumstances, meetings of the Board of Directors and the Audit Committee, which are required to approve the financial results, cannot be convened and held before the stipulated deadline of May 31, 2026. The company has committed to announcing the results as early as possible, but only after the Board and committee compositions are duly compliant and capable of providing the necessary statutory approval.
The financial impact of this delay and the underlying governance issue is not quantified in the disclosure.