Setubandhan Infra: Financial Results Delayed Due to CIRP, Appeal Pending
Setubandhan Infrastructure Limited cannot submit financial results for the quarter ended June 30, 2026, due to ongoing Corporate Insolvency Resolution Process (CIRP). A resolution plan was rejected by NCLT on March 24, 2025, and an appeal is pending. The Resolution Professional lacks access to financial records, delaying result finalization.
The inability to submit financial results is a significant regulatory non-compliance and signals severe operational and financial distress for the company, impacting stakeholders.
The company is unable to submit its financial results due to ongoing insolvency proceedings and lack of access to financial records, indicating a negative operational and financial situation.
Setubandhan Infrastructure Limited is unable to submit its unaudited financial results for the quarter ended June 30, 2026, due to ongoing Corporate Insolvency Resolution Process (CIRP).
The company has been under CIRP since November 28, 2022, when the application filed by the State Bank of India was admitted by the National Company Law Tribunal (NCLT), Mumbai Bench. The Resolution Professional (RP) was appointed and subsequently confirmed. A resolution plan was approved by the Committee of Creditors (CoC) but was rejected by the NCLT on March 24, 2025. An appeal against this rejection was filed with the National Company Law Appellate Tribunal (NCLAT) on July 9, 2025, and the matter is currently pending.
The RP has not been able to access the company's financial records, books of accounts, and other essential data, despite repeated efforts. This non-availability of crucial financial documents prevents the compilation, review, and finalization of financial statements, leading to the inability to submit the results within the stipulated timelines under SEBI (LODR) Regulations, 2015.
The RP is continuing efforts to secure the required records and aims to submit the financial results as soon as possible, subject to audit. Further developments will be communicated to the stock exchange and stakeholders.
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