Sugar Development Fund through IFCI Limited has filed an insolvency petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 against Kesar Enterprises Limited . The petition was filed before the Honourable National Company Law Tribunal (NCLT), Mumbai Bench. The company disclosed that the current status of the petition is that it has not been admitted by the tribunal.

The amount of claim alleged in the petition is ₹6970.54 lakhs. The NCLT has directed the company to file a reply to the said petition. The next date of hearing in the matter has been fixed for June 5, 2026, although the written order of the Honourable NCLT is yet to be uploaded on its official website.

Key Details of the Petition

Kesar Enterprises Limited informed the stock exchanges that it is already in ongoing discussions with the applicant for an amicable resolution of the issues involved. The company expressed hope that it will be able to arrive at a resolution regarding the matter. It further assured that it would keep the exchange updated on any further developments concerning the petition.

Kesar Enterprises Limited has filed its quarterly compliance certificate with BSE Limited, fulfilling regulatory obligations under SEBI (Depositories and Participants) Regulations, 2018. The Mumbai-based company submitted the mandatory documentation on April 13, 2026, through Company Secretary and Vice President (Legal & HR) Gaurav Sharma.

Regulatory Compliance Certificate

The certificate pertains to Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018, covering the quarter ended March 31, 2026. This regulation mandates companies to confirm proper handling of securities received from depository participants for dematerialisation processes.

Registrar Confirmation

MUFG Intime India Private Limited, formerly Link Intime India Private Limited, served as the registrar and transfer agent for this compliance process. The registrar issued its confirmation on April 3, 2026, through Sr. Vice President-Corporate Registry Ashok Shetty.

The registrar confirmed several key compliance aspects:

• Securities received from depository participants during the quarter were properly confirmed to depositories
• All securities comprised in certificates have been listed on relevant stock exchanges
• Security certificates received for dematerialisation were appropriately confirmed or rejected
• Received certificates were mutilated and cancelled after due verification
• Depository names were substituted in the register of members within prescribed timelines

Corporate Information

Kesar Enterprises Limited operates from its registered office at Oriental House, 7 Jamshedji Tata Road, Churchgate, Mumbai-400020. The company, incorporated in 1933 with CIN L24116MH1933PLC001996, maintains its corporate website at kesarindia.com.

Regulatory Significance

This quarterly filing represents standard regulatory compliance for listed companies, ensuring transparency in securities handling and depository operations. The certificate confirms that the company and its registrar have maintained proper procedures for dematerialisation processes during the specified quarter, adhering to SEBI's regulatory framework for depositories and participants.