Ballarpur Industries Ltd

Ballarpur Industries Update: Resolution Plan Implementation & Financial Reporting Status 📊

• Corporate insolvency resolution process (CIRP) underway under Insolvency and Bankruptcy Code, 2016

• NCLT Mumbai Bench approved Resolution Plan of Finquest Financial Solutions on March 31, 2023

• Implementation and Monitoring Committee (IMC) formed to oversee Resolution Plan for 150 days post-approval

• Board of Directors' powers remain suspended during IMC oversight period

• Audited consolidated financial results adopted up to March 31, 2024

• Delays in finalizing March 31, 2025 results due to unavailability of subsidiary financial data

• Company filed application with NCLT seeking extension/exemption for statutory filings

• Meeting to be convened shortly to consider and adopt pending financial results

• Ensuring compliance with SEBI LODR Regulations