Business Update5 Feb 2026, 03:43 pm
Value Industries Ltd Delays Quarterly Results Due to Insolvency Proceedings
AI Summary
Value Industries Ltd, a company undergoing corporate insolvency resolution process (CIRP) under the Insolvency and Bankruptcy Code, 2016, has delayed its quarterly results for the quarter ended on June 30, 2024. The delay is primarily due to resignation of key accounting personnel, non-availability of pre-CIRP records, lack of cooperation from the promoters and erstwhile management, and transition involving resignation of the previous auditor and appointment of a new auditor. The trading in the company’s securities has remained suspended on BSE and NSE since June 16, 2021.
Key Highlights
- Value Industries Ltd is undergoing CIRP under the Insolvency and Bankruptcy Code, 2016
- The delay in submitting quarterly results is due to various challenges including resignation of key accounting personnel and non-availability of pre-CIRP records
- The company is currently transitioning with a new auditor
- Trading in the company’s securities has remained suspended on BSE and NSE since June 16, 2021
- The company regrets the delay and confirms that necessary steps have been taken to ensure timely compliance going forward
Price Impact
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