SKIL Infrastructure Limited Explains Delay in Financial Results Submission
SKIL Infrastructure Limited, undergoing CIRP, explains the delay in submitting financial results for the quarter and year ended March 31, 2026. The company has compiled and submitted results for Q2 and Q3 FY25, and is working on subsequent periods amidst legal challenges and auditor/company secretary non-cooperation.
The delay in submitting financial results, even with explanations, can create uncertainty for investors and may impact the company's regulatory standing and investor confidence.
The announcement explains the reasons for delayed financial results submission due to ongoing CIRP and related legal and operational challenges. While it provides context, it does not contain positive or negative financial performance indicators.
SKIL Infrastructure Limited has informed the stock exchanges about the reasons for the delayed submission of its financial results for the quarter and year ended March 31, 2026. The company is currently undergoing Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016, following an order by the Hon'ble National Company Law Tribunal (NCLT), Mumbai Bench, on February 1, 2024.
Significant legal proceedings and operational challenges have contributed to the delay. Initially, a stay was imposed on the constitution of the Committee of Creditors (CoC) by the Hon'ble National Company Law Appellate Tribunal (NCLAT) on February 12, 2024. This stay was later vacated, and the appeal allowed for withdrawal by the NCLAT on October 15, 2025, leading to the constitution and approval of the CoC by the NCLT. Mr. Purusottam Behera, the Interim Resolution Professional (IRP), was subsequently appointed as the Resolution Professional (RP) in the first CoC meeting held on November 3, 2025.
Further complexities arose due to non-cooperation from the Company Secretary, a Key Managerial Personnel (KMP), necessitating the engagement of an external firm to ensure statutory compliance. Additionally, the statutory auditors initially declined to finalize accounts for the quarter ended September 30, 2024, due to outstanding dues from the pre-CIRP period. After legal notices and a non-cooperation application filed on August 23, 2025, the auditors expressed willingness to cooperate on October 31, 2025.
These cumulative issues resulted in substantial delays in compiling and finalizing the financial results. The company has, however, managed to compile, finalize, approve, and submit results for the quarters ended September 30, 2024, and December 31, 2024. Efforts are underway to submit pending results for subsequent periods in a phased manner. The company has requested the stock exchanges to grant relaxation and understanding regarding the delayed submission, citing circumstances beyond its control.
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SKIL Infrastructure Limited filed this with the NSE as a statutory disclosure, categorised under other regulatory filings. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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