Setubandhan Infra Fails to Submit Q1 FY27 Results Due to Ongoing CIRP
Setubandhan Infrastructure Limited cannot submit its Q1 FY27 financial results due to ongoing CIRP. The NCLT rejected a resolution plan, and an appeal is pending at NCLAT. The Resolution Professional lacks access to financial records, preventing compilation and submission.
The inability to submit financial results and the ongoing CIRP with a rejected resolution plan have a significant negative impact on the company's operations, financial health, and investor confidence.
The company is unable to submit its financial results due to an ongoing insolvency resolution process and lack of access to financial records, indicating severe financial distress and operational challenges.
Setubandhan Infrastructure Limited (the "Corporate Debtor"/"CD") is unable to submit its unaudited financial results for the quarter ended June 30, 2026, as per the timelines prescribed by SEBI (LODR) Regulations, 2015. This inability stems from the ongoing Corporate Insolvency Resolution Process (CIRP) initiated by the State Bank of India, admitted by the Hon'ble National Company Law Tribunal (NCLT), Mumbai Bench, on November 28, 2022. The undersigned was appointed as the Interim Resolution Professional (IRP) and subsequently confirmed as the Resolution Professional (RP) on December 28, 2022.
A resolution plan approved by the Committee of Creditors (CoC) was submitted to the Hon'ble NCLT, but it was rejected by an order dated March 24, 2025. An appeal against this rejection was filed before the Hon'ble National Company Law Appellate Tribunal (NCLAT) on July 09, 2025, and the matter is currently pending adjudication.
The RP has been unable to secure the financial records, books of accounts, and other relevant data of the Corporate Debtor despite repeated efforts. Due to the non-availability of these essential financial documents, the RP cannot compile, review, or finalize the financial statements. The RP is continuing to pursue all possible steps to obtain the required records and expects to submit the financial results at the earliest, subject to audit. The stock exchange 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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