Setubandhan Infra: CIRP Continues, Non-Submission of Compliances for Q2 FY27
Setubandhan Infrastructure Limited remains under Corporate Insolvency Resolution Process (CIRP) since November 2022. The company is unable to submit its Shareholding Pattern, Share Capital Audit report, RTA compliance certificate, and Investor Complaints for the quarter ended 30 September 2026. This is due to the NSDL, CDSL, and RTA ceasing services over unpaid fees by the previous management.
The company is in CIRP, has had its resolution plan rejected, and is failing to submit critical regulatory filings. This suggests a high likelihood of continued operational and financial difficulties, potentially impacting its listing status and investor confidence.
The company is under insolvency resolution, has had its resolution plan rejected, and is unable to submit mandatory regulatory filings due to operational issues stemming from the previous management's actions. This indicates significant ongoing financial and operational distress.
Setubandhan Infrastructure Limited ("Corporate Debtor") has been under Corporate Insolvency Resolution Process (CIRP) since 28 November 2022, following the admission of an application by the State Bank of India. The Resolution Professional (RP) appointed in the case informed that a resolution plan was rejected by the National Company Law Tribunal (NCLT) on 24 March 2025, and an appeal has been filed with the National Company Law Appellate Tribunal (NCLAT) on 09 July 2025, with the matter pending adjudication.
Due to non-payment of outstanding fees by the erstwhile management to depositories (NSDL, CDSL) and the Registrar and Transfer Agent (RTA), these entities have stopped providing shareholding data. Consequently, the company is unable to submit several mandatory compliances for the quarter ended 30 September 2026.
These include the Shareholding Pattern under Regulation 31(b) of SEBI (LODR) Regulations, 2015, the Reconciliation and Share Capital Audit report under Regulation 76 of SEBI (Depositories and Participants) Regulations, 2018, a compliance certificate from the RTA under Regulation 74(5) of SEBI (D&P) Regulations, 2018, and a report on Investor Complaints under Regulation 13(3) of SEBI LODR, Regulations, 2015.
The company is exempted from complying with Regulations 17 to 21 and Regulation 27 of SEBI (LODR), 2015, concerning Corporate Governance reports, due to being under CIRP.
What to do with a filing like this
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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See the model portfoliosA plain-language summary of a public exchange filing by Setubandhan Infrastructure Limited. Read the original for the full detail.