SKIL Infrastructure Limited Delayed Financial Results Due to CIRP Proceedings
SKIL Infrastructure Limited is delayed in submitting financial results for Q2 FY27 due to ongoing CIRP. The company has submitted results up to Q4 FY26 and is working on subsequent periods. Delays were caused by legal proceedings and auditor non-cooperation regarding pre-CIRP dues.
The non-submission of financial results and the company being under CIRP are critical issues that significantly impact investor confidence and the company's operational status.
The company is facing significant delays in submitting its financial results due to ongoing insolvency proceedings and related operational challenges, which is a negative development.
SKIL Infrastructure Limited has informed the stock exchanges regarding the non-submission of financial results for the quarter and half-year ended September 30, 2026. The company is currently undergoing Corporate Insolvency Resolution Process (CIRP) following an NCLT order dated February 1, 2024.
The delay in financial reporting is attributed to several factors, including legal proceedings before the NCLAT and initial non-cooperation from the Company Secretary. Furthermore, the statutory auditors declined to finalize accounts for the quarter ended September 30, 2024, until their outstanding dues were cleared. These dues pertained to the pre-CIRP period, and the auditors were informed to file their claim within the CIRP process. Following legal notices and an application filed by the Resolution Professional (RP), the auditors expressed willingness to cooperate on October 31, 2025.
Due to these prolonged legal proceedings and initial non-cooperation, there have been significant delays in compiling and finalizing the financial results. The company has, however, managed to compile, finalize, approve, and submit financial results up to December 31, 2025. The process for subsequent periods, including the one in question, is ongoing and will be completed in a phased manner. The company assures that efforts are being made to prepare and submit the pending statements at the earliest, contingent on the regularization of access to records and progress in CIRP statutory processes. SKIL Infrastructure Limited requests understanding and relaxation from the stock exchanges regarding the delayed submission, citing circumstances beyond the company's control.
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