BGR ENERGY SYSTEMS LTD.

BGR Energy Systems Ltd has disclosed defaults on its loan obligations as of September 30, 2026. The company reported a total outstanding amount of ₹3764.77 crores from banks and financial institutions, with the entire amount of ₹3764.77 crores being in default. There were no defaults on unlisted debt securities (NCDs and NCRPS). The total financial indebtedness of the company, including short-term and long-term debt, stands at ₹4222.95 crores. This disclosure was made as per SEBI Listing Regulations.

BGR Energy Systems Ltd has received a significant update regarding its insolvency proceedings. The National Company Law Appellate Tribunal (NCLAT), Chennai Bench, has granted relief to the company by suspending the earlier NCLT order. The tribunal has directed the Interim Resolution Professional to proceed with necessary filings with the Ministry of Corporate Affairs (MCA) and Registrar of Companies (ROC), and to inform the Insolvency and Bankruptcy Board of India (IBBI). This development follows a Master Restructuring Agreement signed between the financial creditor and the company, which envisages an infusion of funds through equities and a rights issue. The NCLAT has listed the matter for further hearing on November 16, 2026. The company is expected to increase its authorized share capital and undertake a rights issue to facilitate the restructuring.

BGR Energy Systems Limited has entered into a Master Restructuring Agreement (MRA) with National Asset Reconstruction Company Limited (NARCL) to restructure its outstanding debt. The total outstanding debt amounts to ₹3736 Crore as of October 1, 2025, comprising ₹1,245 Crore of sustainable debt and ₹2,491 Crore of unsustainable debt. Key terms include the repayment of sustainable debt within four years by September 30, 2030, and the allotment of 20% of the Company's equity shares to NARCL on a fully diluted basis. The agreement also outlines provisions for payments related to assigned bank guarantees, recovery of arbitration claims, and the appointment of up to two nominee directors by NARCL. A Monitoring Committee will be formed to oversee the implementation of the restructuring.

BGR Energy Systems Ltd has received a copy of the adjournment order from the National Company Law Appellate Tribunal (NCLAT) at Chennai. This order pertains to insolvency proceedings related to Company Appeal (AT) (CH) (Ins) No. 252/2026. The appeal involves a suspended director of BGR Energy Systems Ltd and National Asset Reconstruction Company Ltd. The NCLAT has noted that the default complaint by the financial creditor has been amicably settled. However, the appellant intends to argue the matter on merits. An operational creditor has also filed an intervention application (IA No. 1420/2026) claiming dues of approximately ₹4.73 crores. The NCLAT has closed the intervention application and directed both sides to submit notes of submission by October 9, 2026, with the appeal listed for hearing on November 16, 2026.

BGR Energy Systems Ltd announced the resignation of Mrs. Sasikala Raghupathy from her positions as Chairperson and Non-Executive Non-Independent Director. The resignation is effective from September 30, 2026. She will also cease to be a member of the Nomination and Remuneration Committee and Chairperson of the Corporate Social Responsibility Committee. The company confirmed that the resignation is not due to any disagreement with the Board, but rather due to an amendment in the Articles of Association appointing Mr. Arjun Govind Raghupathy as the new Chairman.

BGR Energy Systems Ltd announced the resignation of Mrs. Sasikala Raghupathy from her positions as Chairperson and Non-Executive Non-Independent Director, effective September 30, 2026. She will also cease to be a member of the Nomination and Remuneration Committee and Chairperson of the Corporate Social Responsibility Committee. The resignation is due to an amendment in the Articles of Association, appointing Mr. Arjun Govind Raghupathy as the new Chairman. The company confirmed the resignation is not due to any board disagreements.

BGR Energy Systems Ltd has announced an update regarding its insolvency proceedings. The National Company Law Appellate Tribunal (NCLAT) hearing scheduled for September 28, 2026, was adjourned to November 16, 2026. This adjournment follows recent developments concerning a settlement proposal with NARCL. The suspension order previously granted by NCLAT has been extended and will remain in effect until the next hearing date. The company is awaiting the official order copy and will inform the stock exchanges upon receipt. This development is crucial for shareholders and stakeholders as it impacts the ongoing insolvency resolution process.

BGR Energy Systems Ltd has signed a debt restructuring proposal with IDRCL, appointed by NARCL. This move follows prior approvals from the Audit Committee and Board Members. The restructuring pertains to the company's debt assigned by various banks to NARCL. This disclosure is made in compliance with SEBI Listing Regulations.

BGR Energy Systems Ltd has announced the closure of its trading window for dealing in the company's securities. This closure is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, and the company's internal code of conduct. The window will be shut for directors, promoters, officers, designated employees, and their immediate relatives from October 1, 2026, until 48 hours after the announcement of the un-audited financial results for the quarter and half-year ending September 30, 2026. The specific date for the board meeting to approve these results will be communicated later.

BGR Energy Systems Ltd held its 40th Annual General Meeting (AGM) on September 22, 2026, where shareholders approved significant corporate actions. Key approvals include the shifting of the company's registered office from Andhra Pradesh to Tamil Nadu, the re-appointment of Mr. Arjun Govind Raghupathy as Managing Director for a five-year term effective November 11, 2026, and the approval to raise unsecured loans from the Managing Director, promoters, and promoter group. Additionally, amendments to the Articles of Association (AOA) and Memorandum of Association (MOA) were sanctioned, including a revised definition for 'Raghupathy Group' in the AOA.