Richa Industries Limited , a company currently undergoing liquidation, has taken a significant step towards selling its assets. The company issued a Letter of Intent (LOI) on October 16, 2025, for the sale of the entire company, including all its assets, as a going concern under liquidation.

Key Details of the Sale

Liquidation Process

The sale is being conducted as part of the company's liquidation process, which is being carried out in accordance with the Insolvency and Bankruptcy Board of India (IBBI) (Liquidation Process) Regulations, 2016. This process involves several key steps:

1. Approval from the stakeholders consultation committee
2. Putting the company's assets up for auction
3. Analyzing credentials of interested parties
4. Issuing the Letter of Intent to the selected party

Regulatory Compliance

Mohit Chawla, the liquidator for Richa Industries Limited, has duly informed the BSE Limited about this development, ensuring transparency in the liquidation process. The company has stated that it will provide further updates if any additional steps are taken in this direction.

Impact and Implications

This move represents a critical juncture for Richa Industries Limited, potentially leading to:

• Transfer of ownership and management
• Possible continuation of business operations under new ownership
• Settlement of outstanding debts and obligations

It's important to note that while the Letter of Intent has been issued, the final sale is subject to the completion of necessary procedures and approvals as per the liquidation process regulations.

Investors and stakeholders of Richa Industries Limited should closely monitor further announcements for updates on the progression of this sale and its implications on the company's future.

Richa Industries Limited (INE516H01012), currently undergoing liquidation proceedings, has announced a delay in submitting its unaudited financial results for the June Quarter 2025. The company, which is under the supervision of the National Company Law Tribunal (NCLT) as per the Insolvency and Bankruptcy Code, 2016, cited unavoidable delays in the preparation and finalization of its financial statements as the reason for missing the prescribed submission timeline.

Liquidation Proceedings Impact Financial Reporting

Richa Industries is facing challenges in meeting regulatory requirements due to its ongoing liquidation process. This situation has significantly impacted the company's ability to prepare and submit its financial statements in a timely manner.

Communication with BSE

In response to an email from the BSE dated September 12, 2025, regarding the non-submission of the June Quarter results, Richa Industries has provided a formal intimation. The company had previously filed a corporate announcement on September 3, 2025, informing stakeholders about the submission of unaudited financial results for the quarter ended June 2025.

Commitment to Regulatory Compliance

Despite the current challenges, Richa Industries has expressed its commitment to ensuring timely compliance with all regulatory requirements. The company stated:

"We remain committed to ensuring timely compliance with all regulatory requirements and will take necessary measures to avoid any delays in future submissions of financial statement as per the SEBI (LODR) Regulations, 2015."

Looking Forward

As Richa Industries navigates through its liquidation proceedings, stakeholders and investors will be closely monitoring the company's ability to meet its regulatory obligations. The delay in financial reporting adds another layer of complexity to the company's already challenging situation under NCLT supervision.

The company has requested understanding and support from the BSE during this transitional period, assuring its continued commitment to regulatory compliance. As the situation develops, further updates on Richa Industries' financial status and the progress of liquidation proceedings are anticipated.