BGR Energy Systems insolvency appeal adjourned to June 23

BGR Energy Systems Limited has received the copy of the adjournment order concerning the insolvency proceedings involving a suspended director. The National Company Law Appellate Tribunal (NCLAT) at Chennai has listed the matter for the next hearing on June 23, 2026. The interim order, if any, previously passed by the Tribunal will continue to remain in force until the next date of hearing.

The appeal, Company Appeal (AT) (CH) (Ins) No. 252/2026, involves Arjun Govind Raghupathy, a suspended director of bgr energy systems , as the appellant. The respondents in the case are National Asset Reconstruction Company Ltd. and another party. The proceedings relate to the suspension of NCLT order No.CP (IB)/58/7/AMR/2024.

The disclosure was submitted to the stock exchanges in compliance with Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company had previously informed the exchanges on June 15, 2026, that the matter was adjourned and that the copy of the order was awaited.

Case Details

Detail	Information
Appellant	Arjun Govind Raghupathy, Suspended Director of BGR Energy Systems Ltd
Respondent	National Asset Reconstruction Company Ltd. & Anr.
Appeal Number	Company Appeal (AT) (CH) (Ins) No. 252/2026
IA Numbers	697, 698 & 717/2026
Next Hearing Date	June 23, 2026
Tribunal	National Company Law Appellate Tribunal, Chennai

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-2.55%	-3.99%	+6.60%	+0.41%	+207.74%	+343.97%

BGR Energy Systems has received a penalty order of ₹30,65,591.26 from the Office of the Joint Commissioner, Corporate Circle, Kanpur I, Uttar Pradesh, regarding the financial year 2019-20. The order, dated June 18, 2026, was issued under Section 122(2)(b) of the CGST/SGST Act and pertains to the alleged suppression of turnover for the tax period from April 2019 to March 2020.

The aggregate penalty comprises a Central GST (CGST) penalty of ₹15,32,795.63 and a State GST (SGST) penalty of ₹15,32,795.63. The company received the order on the same date it was issued.

Details of the Order

The disclosure was made to the exchanges pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The table below outlines the key particulars of the regulatory action:

SL.NO	Particulars	Details
1.	Name of the authority	Office of the Joint Commissioner, Corporate Circle, Kanpur I, Uttar Pradesh
2.	Nature and details of the action(s) taken, or order(s) passed	Order for imposition of penalty ₹30,65,591.26 under Section 122(2)(b) of the CGST/SGST Act.
3.	Date of receipt of direction or order	Date of Order: 18-06-2026 Date of receipt of order: 18-06-2026
4.	Details of the violation(s) / contravention(s) committed or alleged to be committed	The Order has been passed by the GST Authority under Section 122(2)(b) of the CGST/SGST Act, imposing a penalty on the Company in respect of the alleged suppression of turnover for the tax period April 2019 to March 2020.
5.	Impact on financial, operation or other activities of the listed entity	No material financial impact on the Company at this stage. The Company is going to appeal against the said order.

Company Response

BGR Energy Systems stated that there is no material financial impact on the company at this stage. The company has indicated that it intends to file an appeal against the order passed by the GST authority. S. Sundar, Company Secretary & Compliance Officer, signed the disclosure on behalf of the company.