Simbhaoli Sugars Explains Disclosure Delay Due to CIRP

Simbhaoli Sugars Limited has submitted a reply to the BSE regarding a delay in disclosing a material event. The company cited administrative and compliance challenges arising from its ongoing Corporate Insolvency Resolution Process (CIRP), which has led to significant management changes. The omission to disclose an order from PNB Fraud Risk Management Division within 24 hours was stated as inadvertent. The matter was, however, noted in the Notes to Accounts of the standalone audited financial results for the year ended March 31, 2026, submitted on May 29, 2026. The company has since filed the requisite disclosure and assured the exchange that measures are being taken to strengthen its compliance mechanisms.