Setubandhan Infrastructure Limited Fails to Submit Q2 FY27 Financial Results Due to CIRP
Setubandhan Infrastructure Limited cannot submit its Q2 FY27 financial results due to ongoing CIRP. The NCLT rejected a resolution plan on March 24, 2025, with an appeal pending at NCLAT. The Resolution Professional lacks access to financial records required for reporting.
The inability to submit financial results and the ongoing CIRP with a rejected resolution plan indicate significant financial distress and operational challenges for the company, impacting its stock and stakeholder confidence.
The company is unable to submit financial results due to ongoing insolvency proceedings and lack of access to financial records, indicating a severe operational and financial distress.
Setubandhan Infrastructure Limited (CD) is unable to submit its unaudited financial results for the quarter ended September 30, 2026, within the stipulated timelines. This is due to the ongoing Corporate Insolvency Resolution Process (CIRP) initiated by the State Bank of India, which was admitted by the Hon'ble National Company Law Tribunal (NCLT), Mumbai Bench, on November 28, 2022.
The Resolution Professional (RP), Sandeep D. Maheshwari, has been unable to access the financial records, books of accounts, and other essential data of the Corporate Debtor despite diligent efforts. This non-availability of crucial financial documents prevents the compilation, review, and finalization of the financial statements.
A resolution plan approved by the Committee of Creditors was submitted to the NCLT but was rejected on March 24, 2025. An appeal against this rejection was filed with the Hon'ble National Company Law Appellate Tribunal (NCLAT) on July 09, 2025, and the matter is pending adjudication. The RP is actively pursuing the acquisition of the necessary records and aims to submit the financial results as soon as possible, contingent upon audit completion. Further developments will be communicated to the stock exchange and stakeholders.
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