Key Events and Timeline

  • The company was under CIRP since 15th November 2022
  • Hon'ble NCLT allowed withdrawal of insolvency proceedings against the company vide its order received by the company on 12th September, 2025
  • During CIRP period, the Board was suspended and powers were vested with Resolution Professional
  • Board was reconstituted on 13th September 2025 in line with Listing Regulations

Board Composition Changes (13th September 2025)

Appointments:

  • Mr. T. Sandeep Kumar Reddy as Chairman and Managing Director
  • Ms. T. Sarita Reddy as Executive Director
  • Mr. P.V. Narayana Rao as Independent Director
  • Mr. C.V. Rayudu as Independent Director
  • Mr. Srinivas Iduri as Independent Director
  • Mr. N. Seshagiri Rao as Chief Financial Officer (CFO)

Resignations:

  • Mrs. T. Indira Reddy as Chairperson and Director (resigned due to personal and health grounds)
  • Mr. J. Brij Mohan Reddy as Executive Vice Chairman and Director (resigned due to personal reasons)

Regulatory Compliance Status

  • All changes in directors including resignations were intimated to the Exchange within prescribed time on 13th September 2025 pursuant to Reg. 30 read with Sch III to SEBI Listing Regulations
  • During CIRP period, there were lapses in compliances of various regulations
  • Post-CIRP, company has submitted pending compliances occurred during CIRP period in a phased manner
  • Resignation letters could not be submitted to Exchange within seven days due to multiple legal compliances post-CIRP withdrawal
  • Company attempted to submit resignation letters to BSE & NSE on 23rd September 2025

Supporting Documentation

  • Company's letter dated 23rd September 2025 along with copies of resignation letters of Mrs. T. Indira Reddy and Mr. J. Brij Mohan Reddy enclosed
  • Resignation letters dated 13th September 2025 submitted by both directors

Communication Issues

  • BSE mail sent on 22nd April 2026 at email ID gplcirp@gmail.com was accessed only by Resolution Professional
  • Company had no information of this email, causing delay in response

Company Representation

  • Shashank Jain, Company Secretary & Compliance Officer signed the submission
  • T.V. Sandeep Kumar Reddy, Chairman & Managing Director (DIN: 00005573) represented the company in subsequent communications

Financial Impact

Financial impact not quantified in the disclosure.