Videocon Industries: Delay in Q2 FY27 Financial Results Due to Ongoing CIRP
Videocon Industries Limited is delayed in filing its Q2 FY27 financial results due to an ongoing Corporate Insolvency Resolution Process (CIRP). The NCLT's approval of a resolution plan was set aside, and the matter is under Supreme Court review. The company cannot finalize prior period results, preventing the preparation of the Q2 FY27 results.
The prolonged CIRP and inability to submit financial results indicates a high level of uncertainty and risk for the company and its stakeholders.
The company is facing significant delays in submitting financial results due to ongoing insolvency proceedings, indicating severe operational and financial distress.
Videocon Industries Limited has disclosed the reasons for the delay in submitting its unaudited financial results for the quarter ended September 30, 2026. The company is currently undergoing a Corporate Insolvency Resolution Process (CIRP) initiated by the National Company Law Tribunal (NCLT) on June 6, 2018, with the CIRP of 13 Videocon Group entities consolidated on August 8, 2019. Mr. Abhijit Guhathakurta was appointed as the resolution professional on September 25, 2019.
While the NCLT approved a resolution plan submitted by Twin Star Technologies Limited on June 8, 2021, this order was later set aside by the National Company Law Appellate Tribunal (NCLAT) on January 5, 2022. This decision led to the matter being remitted back to the Committee of Creditors (COC) to re-invite fresh expressions of interest. Subsequently, Twin Star Technologies Limited challenged the NCLAT order before the Supreme Court. The Supreme Court, on February 14, 2022, directed the resolution professional and COC not to proceed further with the CIRP, maintaining the status quo.
Due to these ongoing legal and insolvency proceedings, the company is unable to finalize and approve its financial results for previous quarters, including those ended March 31, 2025, June 30, 2025, September 30, 2025, December 31, 2025, March 31, 2026, and June 30, 2026. The finalization of these prior periods is a prerequisite for preparing the results for the quarter ended September 30, 2026. The company is currently in the process of preparing these financial statements and aims to publish the results as soon as possible.
M/s. GAMP & Co. has been appointed as the new Statutory Auditor for a period of 5 years from April 1, 2024, to March 31, 2029, and is undertaking the audit for FY 2024-25 and 2025-26.
What to do with a filing like this
Videocon Industries 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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See the model portfoliosA plain-language summary of a public exchange filing by Videocon Industries Limited. Read the original for the full detail.