Insilco Limited has appointed Manmohan Juneja as Chairman of the Board, effective August 4, 2026. The Board of Directors approved the appointment during its meeting on July 28, 2026, pursuant to Article 99 of the Articles of Association. This development supersedes Juneja’s earlier designation as an Additional Director in the category of Non-Executive Independent Director. Insilco Limited remains under voluntary liquidation, a status it has held since June 25, 2021.

The Board meeting, originally scheduled for July 24, 2026, was rescheduled due to a lack of quorum. In addition to the leadership appointment, the Board considered the un-audited financial results for the quarter ended June 30, 2026 (Q1FY26). The trading window for dealing in the company’s securities was closed from July 1, 2026, in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015. It will remain closed until 48 hours after the declaration of the Q1FY26 results.

Manmohan Juneja brings approximately 37 years of experience in corporate law, regulation, and insolvency. He is a Fellow Chartered Accountant (Membership No. 087296) and holds a B.Com with a Gold Medal. His professional background includes significant roles in the Ministry of Corporate Affairs (MCA), where he administered the Companies Act and Limited Liability Partnership Act. He has served as an Official Liquidator attached to the High Court and conducted investigations under the Competition Act.

Juneja’s extensive experience includes handling cases under the Insolvency and Bankruptcy Code (IBC) from law-making to implementation at senior levels in the MCA. He has performed quasi-judicial functions for adjudications such as compounding of offences and mergers. Additionally, he appeared as an authorized Petitioner for the Union of India in numerous public interest petitions before the National Company Law Tribunal (NCLT) and National Company Law Appellate Tribunal (NCLAT).

The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Circular No. CIR/CFD/CMD/4/2015 dated September 9, 2015. Juneja is not related to any existing director of Insilco Limited and does not hold any shares in the company. He is not debarred from holding the office of director by virtue of any SEBI order or other authority.

Insilco Limited reported a net loss of ₹79 lakh for the quarter ended June 30, 2026 (Q1FY27), a narrowing from the ₹95 lakh loss recorded in the corresponding period of the previous year. The company, which has been under voluntary liquidation since June 25, 2021, continues to operate without any business activity, resulting in zero revenue from operations. Total income for the quarter stood at ₹8 lakh, derived entirely from other income, primarily interest on financial assets. The National Company Law Tribunal (NCLT), Allahabad Bench, has listed the matter for final disposal of the distribution application and dissolution on July 30, 2026, marking the imminent end of the corporate entity.

The Board of Directors met on July 28, 2026, to approve the unaudited financial results pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The results were reviewed by the Audit Committee and subjected to a limited review by the statutory auditor, Shiv & Associates. The Board also appointed Manmohan Juneja as an Additional Director in the category of Non-Executive Independent Director for a term of five years, effective from August 4, 2026, to August 3, 2031, subject to shareholder approval. He was concurrently appointed as Chairman of the Board with effect from August 4, 2026.

Financial Performance

The company incurred total expenses of ₹85 lakh in Q1FY27, up from ₹48 lakh in the previous quarter and ₹101 lakh in the same quarter last year. Employee benefits expense remained stable at ₹7 lakh. Other expenses rose to ₹78 lakh from ₹40 lakh in the prior quarter, driven by legal and professional fees of ₹46 lakh and miscellaneous expenses of ₹17 lakh. Interest income contributed ₹8 lakh to other income, consistent with the previous quarter and the corresponding period last year. A tax expense of ₹2 lakh was recorded for the period.

Liquidation Status and Legal Proceedings

Ms. Kapila Gupta, the Liquidator, provided an update on the voluntary liquidation process to the Board. The liquidation process was completed on July 18, 2025, but regulatory delays extended the timeline beyond the prescribed 270 days. The Liquidator filed a dissolution application with the NCLT, Allahabad Bench, on July 21, 2025. The NCLT sought reports from various authorities, including the Income Tax Department, SEBI, and the Registrar of Companies (ROC). As of April 6, 2026, the Income Tax Department’s right to file a reply was struck off due to non-compliance. The matter is listed before the NCLT on July 30, 2026, for final disposal of the distribution application and dissolution.

Additionally, proceedings continue before the Labour Court, Rampur, regarding claims by 35 former employees seeking reinstatement and alleging illegal termination under the Voluntary Retirement Scheme (VRS). The Company has applied for the refund of VRS amounts paid to these employees. The Labour Court dismissed objections regarding the Liquidator’s authority to sign pleadings but reserved orders on the refund application, which remains pending.

What the Numbers Show

The narrowing net loss in Q1FY27 compared to Q1FY26 reflects a reduction in other expenses, particularly legal and professional fees, which dropped from ₹59 lakh to ₹46 lakh. However, the absence of operational revenue underscores the company’s complete cessation of business activities following the denial of its Consent to Operate by the Uttar Pradesh Pollution Control Board in 2019. The financial statements have not been prepared on a going concern basis, reflecting the terminal nature of the company’s operations. The primary financial activity now consists of winding down liabilities and distributing remaining assets to shareholders.