Setubandhan Infra: CIRP Continues, Financial Results Delayed for Q2 FY27
Setubandhan Infrastructure Limited is unable to submit its financial results for the quarter ended September 30, 2026, due to an ongoing Corporate Insolvency Resolution Process (CIRP). The NCLT rejected a resolution plan on March 24, 2025, and an appeal is pending. Financial records are unavailable to the Resolution Professional.
The ongoing CIRP, rejection of a resolution plan, and inability to file financial results have a severe impact on the company's operations, financial health, and investor confidence.
The company is undergoing insolvency proceedings, facing rejection of a resolution plan, and is unable to submit its financial results due to unavailability of financial records. This indicates significant operational and financial distress.
Setubandhan Infrastructure Limited (Corporate Debtor) is facing a delay in the submission of its unaudited financial results for the quarter ended September 30, 2026. This is due to the ongoing Corporate Insolvency Resolution Process (CIRP) initiated by the State Bank of India, with the application admitted by the Hon'ble National Company Law Tribunal (NCLT), Mumbai Bench, on November 28, 2022.
The Resolution Professional (RP), Sandeep D. Maheshwari, appointed on December 28, 2022, has been unable to obtain the necessary financial records, books of accounts, and other relevant data from the company. Despite repeated efforts, the non-availability of these essential documents prevents the RP from compiling, reviewing, or finalizing the financial statements.
Further complicating matters, the resolution plan approved by the Committee of Creditors was rejected by the Hon'ble NCLT on March 24, 2025. An appeal against this rejection order was filed before the Hon'ble National Company Law Appellate Tribunal (NCLAT) on July 09, 2025, and the matter is currently pending adjudication.
Consequently, the company is unable to submit its financial results within the timelines prescribed by Regulation 33 of the SEBI (LODR) Regulations, 2015. The RP is actively pursuing all possible steps to secure the required records and aims to submit the financial results at the earliest, subject to audit. The stock exchanges and stakeholders will be kept informed of any further developments.
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Setubandhan Infrastructure Limited filed this with the NSE as a statutory disclosure, categorised under corporate insolvency resolution process. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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